When it comes to lettings in the UK, you will need to keep a few things in mind to run a successful business. Using the following tips will give you a hand when you need it, making sure you're ready for the challenges ahead.

1. Important Terms You Should Know
in Regards to Lettings in the UK
Deposits
Access
The deposit money belongs to the tenant unless
otherwise agreed by the tenant or the tenancy
deposit scheme. Deposits must never be used to
pay fees owed to the agent by the landlord.
An agent must keep written accounts of who
holds the keys and inform tenants of the access
required by the tenancy agreement terms.
Duty of Care
Agency Agreement
(Landlords only)
Agents must always work in the client's best
interests, that is to say, the person who pays the
letting agency services, which is most often the
landlord. The agent must be informed as early as
possible if they had any personal or other
business interest in the property.
You must ensure you understand the terms of the
agreement and the commitments you are
entering with the agent. You should take care
before you sign and be aware that the document
you sign can be cancelled within 14 days.
The Energy Assessor
Check-in/Check-out
By law, any property that is supposed to be let
must have an Energy Performance Certificate.
The agent might assist landlords in finding an
Assessor.
You should avoid future disputes whenever you
can by amending, verifying, signing and copying
the inventory or check-in reports and returning
the documents through a registered post.
Fees
This means additional fees, charges and
penalties that may have been incurred during a
tenancy. The same goes for fees, charges and
penalties references in Tenancy Agreements and
Terms of Business.
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