What You Need to Know About Lettings and the Rental Market

What You Need to Know About Lettings and the Rental Market

May, 2023

If you're thinking about renting a property or letting out your property, there are some things you need to know about the rental market. In this blog post, we'll discuss some key things you need to know about lettings and the rental market. From understanding the different types of lettings to knowing your rights and responsibilities, we've got you covered.

Types of Lettings

There are several types of lettings available in the rental market. The most common are Assured Shorthold Tenancies (ASTs), England and Wales's default type of tenancy agreement. ASTs usually last six or twelve months, and the landlord can evict the tenant with two months' notice after the fixed term ends.

Another type of letting is Periodic Tenancy, which means that the tenancy runs on a rolling basis. This means that the tenant can stay in the property as long as they pay the rent and the landlord doesn't evict them. It's important to note that the landlord must notify the tenant if they wish to end the tenancy.

Finally, there are also Rent-to-Rent agreements, which are becoming more popular in the rental market. In this agreement, a tenant rents a property from a landlord and then sublets it to other tenants. It can be profitable for tenants to profit from the rental market, but checking that the landlord has permitted the subletting is essential.

Rights and Responsibilities

Both landlords and tenants have rights and responsibilities when it comes to lettings and the rental market. Landlords must ensure the property is safe and habitable and perform necessary repairs and maintenance. They must also protect the tenant's deposit in a government-approved scheme and provide the tenant with a copy of the Energy Performance Certificate.

On the other hand, tenants are responsible for paying their rent on time and taking care of the property. They must report any repairs that need to be carried out and allow the landlord access to the property for inspections and repairs. Tenants also have the right to live in the property without interference from the landlord.

Finding the Right Property

Start by listing your requirements, such as the number of bedrooms, location, and budget. You can then search online for properties that meet your criteria.


It's also a good idea to view several properties before deciding. This will give you a better idea of what's available in the rental market and help you to make an informed decision. When viewing a property, ask questions about the tenancy agreement, the landlord's responsibilities, and any other queries you may have.

Tenancy Agreements

A tenancy agreement is a legally binding document that sets out the terms and conditions of a tenancy. Some common terms that may be included in a tenancy agreement include the rent amount, the length of the tenancy, and any restrictions on the use of the property. Read the contract carefully and understand your agreement before signing it.

Rent Increases

Landlords have the right to increase the rent during a tenancy, but they must follow certain rules. They must give the tenant notice of the increase and explain its reason. The tenant can challenge the increase if they believe it's unreasonable.


Most landlords require a deposit from the tenant before they move in. This usually equals one month's rent and is held as security against any damage or unpaid rent. The landlord must protect the deposit in a government-approved scheme and provide the tenant with information about the scheme.

Inventory Checks

Before a tenant moves in, the landlord should conduct an inventory check to record the property's condition and contents. This should include photographs and a detailed description of the condition of each item. The tenant should be given a copy of the inventory check and asked to sign it.

Repairs and Maintenance

Landlords are legally obligated to carry out repairs and maintenance on the property. This includes keeping the property in good repair, ensuring that the heating and hot water systems are working properly, and fixing any problems with the roof, walls, or windows.

Gas Safety

Landlords are required by law to have an annual gas safety check on any gas appliances on the property. A registered gas engineer must carry this out, and a copy of the safety certificate must be given to the tenant.

Electrical Safety

From 1st July 2020, all landlords in England must have the electrical installations in their properties inspected and tested by a qualified electrician at least every five years. The landlord must provide the tenant with a copy of the Electrical Installation Condition Report (EICR).

Fire Safety

Landlords are responsible for ensuring that the property meets fire safety regulations. This includes providing smoke alarms on every floor of the property and carbon monoxide alarms in rooms with solid fuel-burning appliances. Landlords should also ensure that any furniture or furnishings provided meet fire safety standards.

Landlord Licensing

Some local authorities require landlords to obtain a license to rent their property. This is usually to ensure that the landlord is a fit and proper person to be a landlord and that the property meets certain standards. Landlords should check with their local authority to see if they need a license.

Renting with Pets

Finding a rental property that allows pets can be challenging if you're a pet owner. However, landlords are not allowed to refuse pets unreasonably, and there are ways to make your pet more appealing to landlords, such as providing references from previous landlords and offering to pay a higher deposit.

In conclusion, lettings and the rental market can be complex, but with the right knowledge and understanding, it can be a profitable and enjoyable experience. Whether you're a landlord or a tenant, knowing your rights and responsibilities is crucial, as is finding the right property for your needs. Following the tips and advice in this blog post can make the most of the rental market and ensure a successful tenancy.

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