Tenancy paperwork

Any deposits taken on or after 1 April 2013 must be registered with an authorised Tenancy Deposit Protection Scheme administrator. Deposits taken before that date don't need to be registered with one of these schemes.

There are a number of things you must consider before deciding to become a landlord. There can be a lot of initial expenditure and you will need to be able to dedicate a certain amount of time to your new business.

As the property owner, you should make sure that you keep accurate records for all your rented properties. This should include information on your property's amenities as well as any safety certificates associated with the property. As a landlord, you are running a business and should give the same level of importance to record keeping as you would in any other business venture. You must also comply with the Data Protection Act and may have to notify the Information Commissioner's Office of your business.

You may need to get a certificate to show that your property is fit for habitation. Certain properties don't need to get the certificate, but it is an offence to fail to apply for one if your property isn't exempt.