Maidenhead & Windsor

New guidance released on Thursday 26 March is being supported by the Royal Windsor and Maidenhead Borough to help people thinking of renting their home.

The guidance – produced by Local Authorities Coordinators of Regulatory Services (LACORS) – addresses the problems faced by home owners during the current credit crunch.

Many Windsor and Maidenhead home owners struggling to pay the bills are being forced to become private landlords and rent out their homes. Rental income can help the budget, but a lack of knowledge of the law can prove costly.

By following this simple 10-point checklist people can avoid potential problems when renting their homes:

* speak to your mortgage lender
* get references from potential tenants
* prepare a formal tenancy agreement
* if you take a deposit, it must be properly protected
* obtain an energy performance certificate
* find out whether you need a property licence
* get all your gas and electrical appliances checked
* minimise the risk from fire
* ensure that your property presents no risk to your tenants’ health and safety
* don’t find yourself in court when something goes wrong.

Cllr Simon Dudley, lead member for Windsor and Maidenhead adult and community services, said: ”This timely new guidance will help Royal Borough residents who are thinking about renting their home. Helping people understand the pitfalls and the rules could save them from losing their home or being fined.

“Taking a commonsense approach to being a landlord should help people avoid problems with tenants or the law.”

Cllr Phillip Bicknell, lead member for Windsor and Maidenhead public protection, said: “I would urge anyone who is thinking of renting their home to read the leaflet as it covers all they need to know and should prevent any mishaps further down the line.”

Cllr Geoffrey Theobald OBE, LACORS chairman, said: “The credit crunch has placed many people’s budgets near to breaking point. To try and combat mounting bills and rising unemployment, many people are looking to rent out their home. This guidance aims to keep people from making costly mistakes as they take on tenants.“

Failing to talk to a mortgage lender could see people lose their home, or by not storing a tenants deposit in an approved scheme cost new landlords three times over. Failing to license a property could result in a fine of up to £20,000. This guidance provides the information people need to stay on the right side of the law.

The Royal Borough of Windsor and Maidenhead