Knowing Your Rights as a Property Owner

A report published by the British Government shows that there has been a decline in property renting. This is because more and more individuals are now purchasing their own property.

While renting still has a big presence in the U.K., through the right to buy scheme, people have been investing in purchasing their own homes.

But when it comes to purchasing your own property, there’s a lot more to consider than a nice location and nearby amenities. One thing every property owner should look into is their legal rights. Not only is every owner entitled to their own rights, knowing your legal rights can help you in numerous ways, especially when you plan to lease it.

Boundary Agreements

Boundary agreements are important because they help prevent feuds between neighbours and sets a ‘boundary’ between two property owners. Before you make any agreements, it’s important to check your deeds to see if there is already an existing agreement.

If you’re agreeing to boundaries with your neighbour, it’s important to have a written agreement so that you have legal proof.

Private Renting

If you’re planning to rent your property, there are a few legal procedures you have to follow. This includes:

• Making sure your property is safe before you lease it
• Making sure gas, electricity and fire safety is registered
• Smoke alarms, sockets and light fittings are available
• All appliances are safe to use
• Your property isn’t damaged

Before leasing your property for rent, you also have to make sure that you also have the right to check the background of tenants. This includes looking into whether they have the right to rent in the U.K. and looking into the separate adults occupying the property.

However, after investigating, you are to return their original documents.

Commercial Leasing

Commercial leasing has its own legal procedures. There are certain laws you are subjected to when leasing your property commercially.

Insurance Responsibilities   

You have to clearly state in the lease contract whether you or the tenant are responsible for property insurance. This includes both liability and casualty insurance. This will help protect your rights, as well the tenant’s rights.

Maintenance Responsibilities

Whether you’re leasing your property commercially or renting it privately, maintenance falls on the landlord’s shoulders. It’s important that you maintain your property and make sure it’s not damaged. However, your tenants are responsible for any damage incurred by them.

Payments

When leasing your property, payments and any other financial obligations must be specified.

Furthermore, payment and lease renewal options should also be included in the contract.

As the property owner, you have the right to choose whether you want to renew the contract once it expires. In addition, if you wish, you can also add that remodelling the property or renting it to a third party is forbidden.

If you’re considering leasing your property—whether for commercial or private renting—we can help you draft a contract. Our solicitors will ensure all the details will be added to the contract in an efficient and timely manner.

We also offer advice for boundary disputes. Feel free to call us at 020 3417 3700. You can also send an email to info@wembleysolicitors.com for questions/queries.