The law states that as a landlord you must make certain checks before you let your commercial premises. Currently the following regulations apply:
• The Gas Safety (Installation and Use) Regulations 1994 - This regulation stipulates that it is the duty of the landlord of any commercial rental property to have all gas appliances and their associated pipe work tested on an annual basis. (for a shared boiler) A copy of the Gas Safety Inspection certificate must be left for the new commercial property tenants before they sign the lease.
• The Furniture and Furnishings (Fire and Safety) Regulations 1988 - Landlord’s also have the duty of ensuring all upholstered furniture complies with these regulations. We will check this for you as part of our service.
• Asbestos Audit- It may be necessary to have the premises checked for the presence of Asbestos. We can advise in this respect.
• Electrical Certification- It may be necessary to provide an in-going tenant with an electrical installation safety certificate. Again, we can advise on this matter.
As rental income is taxable as ‘’income’’, you may wish to speak to your accountant, about the tax implications and your potential tax allowances that you will be entitled to.
We are able to recommend First Class local accountants who are not only experts in their field, but are also commercial property themselves. Accordingly their experience can work to your significant benefit !