Landlord's guide to deposit protection schemes
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As a landlord, protecting your tenant’s deposit isn’t just good practice – it’s a legal requirement. Deposit protection schemes can safeguard both landlords and tenants by ensuring deposits and disputes are handled fairly.
This guide outlines your potential obligations and the different types of schemes available.
This guide outlines your potential obligations and the different types of schemes available.
Can landlords store their own items in sheds and garages?
It’s generally best practice for landlords to remove any personal items that are not useful or relevant to tenants before the tenancy begins. This ensures that the property is clean, clutter-free, and ready for the new occupants. It also helps avoid any potential confusion or disputes about the use and care of those items.
Anything that landlords do leave for tenants should be in good working order and listed in the check-in inventory and schedule of conditions. Including everything in the inventory, and obtaining tenants’ approval and signature within 14 days of the tenancy starting, can ensure that any items left by landlords at the rental property are accounted for.
Can you charge more for properties with sheds and garages?
How much you can charge for your rental property depends on various factors. However, garages and sheds can enhance the value of rental properties, allowing landlords to increase the rent if these features are included. The size of these units can also influence the monthly rental fees set by landlords, as can their location and condition.
It’s best practice for landlords to maintain sheds and garages in a reasonable condition. This includes ensuring they are clean, structurally sound, weatherproof, and clutter-free. A well-maintained, empty or nearly empty shed or garage can also be more appealing to tenants.
Advantages of sheds and garages for tenants
Renting a property with garages and sheds can offer numerous benefits for tenants, including:
- Extra storage space: Whether it's tools, outdoor furniture, or bicycles, the additional storage space allows tenants to keep their items out of the way.
- Secure parking: For tenants who drive, a garage offers a secure place to store their vehicle, helping to protect it from vandalism and theft.
- Potentially lower car insurance: Garages can also lead to cheaper car insurance for tenants with vehicles, as some insurers offer lower premiums due to the reduced risk of theft and damage. However, this isn't guaranteed.
- Home gym: Tenants without a vehicle can utilise the extra space in a garage to set up a home gym. This allows those who prefer exercising at home to create a personalised fitness area, promoting an active lifestyle.
Disclaimer:
Managing rental properties is a complex business. At Hiscox, we want to see your investments thrive. Our articles offer insights into property management and landlord best practices. But these articles aren't professional advice. To find out more about a subject we cover here, please seek professional advice.
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