Residential Property Letting Practice

Overview

Framework:
RQF
Level:
Level 3
Unit No:
D/617/9659
Credits:
4
Guided learning hours:
10 hours

Aim

This unit deals with how letting agents should conduct themselves when carrying out the letting of residential property in order to comply with all relevant statutes, common law and principles of best practice.

Unit Learning Outcomes

1

Understand a letting agency's services and terms and the agent's authority.

Candidates should be familiar with the legislation relating to 'To Let' boards. Also, to be able to identify circumstances within their role in which expressed appointment, ratification, estoppel, and agency of necessity would apply. 

Assessment Criteria

  • 1.1

    Explain standard letting services for introduction only, let and rent processing, or a full management service.

  • 1.2

    Distinguish between standard letting services and services requiring additional fees.

  • 1.3

    Explain the legislation relating to letting boards.

2

Understand the main factors affecting property rental value and the market appraisal process.

Candidates should be familiar with supply and demand; energy performance certificate guidance; the effect that location, property type and condition have on value; planning and building regulations; occupancy restrictions on value; comparable transactions; changes to the state of the market or time of sale and the requirements of the landlord.

Assessment Criteria

  • 2.1

    Explain the factors affecting property rental value.

  • 2.2

    Identify the information required about the property and the landlord in preparation for market appraisal. 

  • 2.3

    Detail the advice to landlords regarding insurance. 

  • 2.4

    Explain finance, costs and tax in relation to renting out a property.

3

Understand the requirements for energy performance certificates (EPCs) for rental property. 

Candidates should be familiar with current guidance on energy performance certificates. 

Assessment Criteria

  • 3.1

    Explain the rules for the provision of EPCs for a property to let.

  • 3.2

    Explain the circumstances under which a property may be exempt from an EPC.

4

Understand the agents' responsibilities to the landlord and applicants. 

Candidates should be familiar with consents, codes of practice, and personal interests and connected persons. 

Assessment Criteria

  • 4.1

    Explain the responsibilities of the agent to the landlord and the applicant in relation to common duties, codes of practice, and legislation.

5

Understand the requirements for dealing with offers and the referencing of applicants and guarantors.

Candidates should be familiar with the information that can and cannot be given to landlords.

Assessment Criteria

  • 5.1

    Explain the process for dealing with offers. 

  • 5.2

    Identify any special requirements an applicant may have. 

  • 5.3

    Explain the responsibilities of guarantors. 

6

Understand the process of preparing tenancy documentation. 

Candidates should be familiar with the common terms in tenancy agreements; terms in other documents relating to the letting; Consumer Rights Act 2015 Part 2; discrimination legislation; reasonable adjustments, and the different types of tenancy agreements. 

Assessment Criteria

  • 6.1

    Identify the documents that are required when creating a tenancy agreement.

  • 6.2

    Explain the clauses that are required to protect the landlords' and tenants' interests and to comply with common law legislation. 

  • 6.3

    Explain the information to be contained in inventories and schedules of condition. 

  • 6.4

    Identify the information that must be given to an occupier.

7

Understand the requirements of the housing benefit system and local housing allowance. 

Candidates should understand the requirements of the housing benefit system and local housing allowance.

Assessment Criteria

  • 7.1

    Apply the entitlement criteria to defined scenarios relating to housing benefit or local housing allowance.

  • 7.2

    Determine when housing benefit or local housing allowance can be clawed back and when it cannot.

8

Understand the procedures to be followed when handing over a property to a new tenant. 

Candidates should understand the procedures to be followed when handing over a property to a new tenant.

Assessment Criteria

  • 8.1

    Explain the various information and documentation that should be given to relevant parties at the start of the tenancy. 

  • 8.2

    Explain the process for passing management of property to another agent following dis-instruction.