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Know your rights: The new rules for the rental market that will protect against...

Facebook - 31 October 2014 - 2:48pm
Know your rights: The new rules for the rental market that will protect against bad landlords - and six tips for tenants

http://www.thisismoney.co.uk/money/mortgageshome/article-2770969/Know-rights-New-rules-rental-market-protect-tenants-bad-landlords.html


Renting a house? New rules will protect tenants from bad landlords
www.thisismoney.co.uk
From October 1, every lettings agent must be a member of an ombudsman-style scheme as the Government tries to clamp down on dodgy agents.

TOP TIPS: The importance of tenant checks Have you found yourself with a night...

Facebook - 28 October 2014 - 10:03am
TOP TIPS: The importance of tenant checks


Have you found yourself with a nightmare tenant? Welcomed new tenants into your well maintained property only to find it destroyed by the end of the tenancy? Found yourself in a situation where your tenant just stopped paying the rent soon after moving in? If you have, then ask yourself did you do a thorough tenant check before signing the AST?

http://nlauk.wordpress.com/2014/10/27/top-tips-the-importance-of-tenant-checks/


TOP TIPS: The importance of tenant checks
nlauk.wordpress.com
Have you found yourself with a nightmare tenant? Welcomed new tenants into your well maintained property only to find it destroyed by the end of the tenancy? Found yourself in a situation where you...

TOP TIPS: The importance of tenant checks

NLA Blog - 27 October 2014 - 2:18pm

Have you found yourself with a nightmare tenant? Welcomed new tenants into your well maintained property only to find it destroyed by the end of the tenancy? Found yourself in a situation where your tenant just stopped paying the rent soon after moving in? If you have, then ask yourself did you do a thorough tenant check before signing the AST? 

It is best practice to carry out a thorough check on prospective tenants; especially now with the new requirements for landlords to carry out immigration checks coming (see here), as it means risking a £3000 fine otherwise. 

Tenant checks will highlight any abnormalities that should set alarm bells ringing. To make sure you don’t risk losing out, be it due to rent arrears or property damage, here are some top tips from the NLA on best practice when checking potential tenants:

1) Contact details

For starters you must make sure you have the personal and the next of kin contact details. Also asking for previous addresses for the past three years can help provide a picture of where and how long they have been at a previous property.

2) Confirming their identity

It is important to check people’s identity to make sure you don’t risk renting your property to criminals, fraudster or vandals, and especially to make sure you comply with the impending Immigration Act requirements.

3) Carrying out a credit check

If credit checks aren’t carried out you may be risking financial complications. By carrying out a credit check you will be able to find out if there are any CCJs against the tenant or if they are in receipt of housing allowances.

If you want to do a credit report, the prospective tenant must also sign to confirm that they understand a credit search will be done.

4) Written verification of employment/income

To make sure that the tenant is able to cover the rent it is important to check employment status and income.

5) Obtaining references from their previous landlords and employers

Referencing can help ascertain what sort of tenant you may be taking on, but bear in mind if you want to contact referees you must seek the tenant’s written consent in advance. 

There are a number of tenant referencing products that offer these services, such as NLA tenant check. www.nlatenantcheck.org.uk 

Renting out property is a business and it should be treated as such. As a landlord you need to make sure you put your investment first and don’t take the risk.


Filed under: NLA Tagged: anti social behaviour, checks, credit checks, tenant, top tips

See you at the Bournemouth Landlord Exhibition! 6 Nov starting at noon. http...

Facebook - 27 October 2014 - 9:05am
See you at the Bournemouth Landlord Exhibition!

6 Nov starting at noon.

http://bournemouthlandlordexhibition.co.uk/


Contact us - Bournemouth Landlord Exhibition
bournemouthlandlordexhibition.co.uk
By rail: Catch the train to Bournemouth station, from there catch the Yellow A1 bus from stand 3 at the travel interchange (opposite the railway station) to Bournemouth Hospital.

Buy-to-let boom: one in five homes now owned by landlords Are buy-to-let's help...

Facebook - 23 October 2014 - 3:40pm
Buy-to-let boom: one in five homes now owned by landlords

Are buy-to-let's helping or hindering the housing market?

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11179073/Buy-to-let-boom-one-in-five-homes-now-owned-by-landlords.html


Buy-to-let boom: one in five homes now owned by landlords - Telegraph
www.telegraph.co.uk
Britain's two million-strong army of buy-to-let investors have almost doubled their property holdings in a decade – and they are set to buy up even more homes

We will be at the Bournemouth Landlord Exhibition 2014! It is an excellent oppo...

Facebook - 21 October 2014 - 11:06am
We will be at the Bournemouth Landlord Exhibition 2014!

It is an excellent opportunity to network with other landlords, leading market professionals and public sector partners.

The Bournemouth Landlord Exhibition 2014 is a free event taking place on Thursday 6th November from 12:00 noon until 8:00pm at the Village Hotel, Bournemouth.

http://bournemouthlandlordexhibition.co.uk/

See you there!


Frontpage - Bournemouth Landlord Exhibition
bournemouthlandlordexhibition.co.uk
The Bournemouth Landlord Exhibition 2014 is a free event taking place on Thursday 6th November from 12:00 noon until 8:00pm at the Village Hotel, Bournemouth.

Hastings Council are entering all who respond to their Selective Licensing consu...

Facebook - 20 October 2014 - 1:23pm
Hastings Council are entering all who respond to their Selective Licensing consultation survey into a prize draw for a £200 M&S voucher.

http://hastings.gov.uk/selective


Proposed Selective Licensing Scheme
hastings.gov.uk
We need your views on our proposal to introduce selective licensing of privately rented homes in certain areas of Hastings.

NLA Mortgages has launched two exclusive buy-to-let remortgage products with Ski...

Facebook - 18 October 2014 - 8:15am
NLA Mortgages has launched two exclusive buy-to-let remortgage products with Skipton Building Society.

There is is a 2.25% 2 year fixed rate up to 60% LTV and a 2.50% 2 year fixed rate up to 70% LTV.

Both products have a free valuation and free legals fees.


NLA CEO Richard Lambert comments on the implications of the Lyons Housing Review...

Facebook - 17 October 2014 - 11:07am
NLA CEO Richard Lambert comments on the implications of the Lyons Housing Review on buy to let and private housing.

- See more at: http://www.landlords.org.uk/news-campaigns/news/lyons-review-ban-half-buy-let-on-new-builds#sthash.LC2org6R.dpuf


Lyons review to ban half of buy to let on new builds | National Landlords Association
www.landlords.org.uk
Commenting on the implications of the Lyons Housing Review on buy to let and private housing, Richard Lambert, Chief Executive Officer at the National Landlords Association (NLA), said:“It is entirely understandable that Labour want to prioritise first time buyers by giving local authorities the pow…

After landlord turns down Sierra Leone student due to risk of Ebola is it time w...

Facebook - 16 October 2014 - 4:03pm
After landlord turns down Sierra Leone student due to risk of Ebola is it time we all learned the facts? bit.ly/101nFol

http://www.theguardian.com/world/2014/oct/15/uk-landlords-refuse-house-student-sierra-leone-ebola-fears


Ebola: Factsheet for the general public
www.ecdc.europa.eu
Ebola virus disease, or Ebola haemorrhagic fever as it was previously known, is caused by the Ebola virus. It is a rare but severe disease, found in countries in Africa, which can often have a fatal outcome (for 25-90% of the infected people). Transmission of the viruses occurs from person to person…

As it is getting colder, make sure you have taken the correct measures to help c...

Facebook - 16 October 2014 - 7:45am
As it is getting colder, make sure you have taken the correct measures to help control condensation and mould growth.

Have a look at our informative video with useful hits and tips.

https://www.youtube.com/watch?v=wNEhelsq-Ss&list=UUOcbeDTjkjsiCTvK49nXYDQ


Controlling Condensation and Mould Growth - an NLA Guide

Information and advice for landlords, tenants and households on how to control condensation and eliminate unpleasant mould in residential properties. For mor...

The NLA hold informative meetings for all #landlords throughout the UK, have a l...

Facebook - 11 October 2014 - 7:10am
The NLA hold informative meetings for all #landlords throughout the UK, have a look and see if there is one near you!
http://www.landlords.org.uk/events/meeting


Events | National Landlords Association
www.landlords.org.uk

The NLA recommends that landlords always check potential tenants thoroughly in o...

Facebook - 9 October 2014 - 1:59pm
The NLA recommends that landlords always check potential tenants thoroughly in order to reduce the risk of letting to unreliable tenants and minimise the risk of rent arrears. Services such as NLA Tenant Check give landlords the ability to vet their tenants and be confident it has been done to a professional standard.

In light of the impending immigration checks it is now more important than ever to make sure landlords are aware of what will be required of them.

See here for some helpful advice on the new immigration checks for landlords:
http://www.nlatenantcheck.org.uk/righttorent.aspx

http://www.landlords.org.uk/news-campaigns/news/new-rules-spurs-reminder-the-importance-tenant-checks#sthash.DrUvMv93.dpuf


News & Campaigns | National Landlords Association
www.landlords.org.uk
National Landlords Association news, campaigns, policy issues, developments, press releases and UK Landlord magazine.

Are you a NLA member? Fancy winning a £50 John Lewis voucher? Entry deadline 14...

Facebook - 9 October 2014 - 5:05am
Are you a NLA member? Fancy winning a £50 John Lewis voucher?
Entry deadline 14 October (27 October deadline for submissions)


Southwark launches consultation on proposal to introduce private rental sector l...

Facebook - 8 October 2014 - 9:17am
Southwark launches consultation on proposal to introduce private rental sector licensing.

Make sure you have your say!

http://www.southwark.gov.uk/news/article/1803/southwark_launches_consultation_on_proposal_to_introduce_private_rental_sector_licensing


Southwark launches consultation on proposal to introduce private rental sector licensing |...
www.southwark.gov.uk
Southwark launches consultation on proposal to introduce private rental sector licensing - In a bid to tackle anti social behaviour and drive up standards in Southwark’s private rental sector, the council has launched a public consultation seeking local opinion on the subject.

Don’t delay, have your say! The consultation on the Renting Homes illustrative m...

Facebook - 8 October 2014 - 9:15am
Don’t delay, have your say! The consultation on the Renting Homes illustrative model contract closes on 14th October 2014

http://wales.gov.uk/consultations/housing-and-regeneration/renting-homes-illustrative-contract/?lang=en


Renting Homes – Illustrative Model Contract
wales.gov.uk
The Renting Homes White Paper, which was the subject of a separate consultation in 2013, proposed replacing what is currently a confusing and complex area of law with a clearer, simpler and more straightforward legal framework.

NLA MEMBERS - win a £50 John Lewis voucher Submit your experience of: How to a...

Facebook - 7 October 2014 - 3:12pm
NLA MEMBERS - win a £50 John Lewis voucher

Submit your experience of:
How to avoid rent arrears
Dealing with damage to property
Problem tenants
Practical consequences from non-compliance with the rules and regulations

and you could win a £50 John Lewis voucher for best case study which will be published in UK Landlord magazine and other media.

Deadline is 14 October for entries and 27 October for submissions.


Protect yourself from risk Carolyn Uphill a landlord and Chairman of the NLA o...

Facebook - 6 October 2014 - 3:58pm
Protect yourself from risk

Carolyn Uphill a landlord and Chairman of the NLA on making sure you have the right insurance cover and the perils of not doing your research. During my time as a landlord and as Chairman of the ...

http://nlauk.wordpress.com/2014/10/06/protect-yourself-from-risk/


Protect yourself from risk
nlauk.wordpress.com
Carolyn Uphill a landlord and Chairman of the NLA on making sure you have the right insurance cover and the perils of not doing your research. During my time as a landlord and as Chairman of the ...

Protect yourself from risk 

NLA Blog - 6 October 2014 - 3:56pm

Carolyn Uphill a landlord and Chairman of the NLA on making sure you have the right insurance cover and the perils of not doing your research.
 

During my time as a landlord and as Chairman of the NLA I have come across many landlords who thought they had appropriate insurance cover but unfortunately found out the hard way that they in fact needed specialist landlord insurance. Landlords should treat their investment as a business, and as with all business operations there are rules and regulations, with stiff penalties for getting things wrong. Essential are things like making sure they have the right paperwork, establishing good relationships with their tenants and providing the necessary services for a comfortable tenancy. But what about all the other risks you face as a landlord?

One thing is for sure; standard building insurance will not do

Whatever size the portfolio, a landlord needs to make sure they are protected. I have lost count of the number of conversations in which a landlord has said they thought that their standard house building insurance policy ‘would do’. Sadly that is far from the case. Without notifying your insurer that you have let the property out, your insurance may not be valid at all and it will not cover you for the things which as a landlord you may be liable for.

Do you have the appropriate cover?

Loss of Rent
Did you know only 23 per cent of landlords have loss of rent cover? That’s nearly three in four landlords who underestimate the significance of specialised landlord insurance. If, for example, your property burns down, not only do you need to rebuild it, but you may also need to re-house your tenant, at your cost. Of course, this is not an everyday occurrence but it will prove to be a very difficult and costly situation if you don’t have the right cover in place. There will still be outgoings, such as the mortgage, which needs to be paid whilst the property is being rebuilt and without a specialised loss of rent cover, there will be no income to help mitigate these payments.

Public Liability
Public liability cover is another area of protection which landlords mustn’t overlook. Only a specialist landlord insurance policy will provide you with this cover and that’s why you need to ensure you have the right policy for the business you’re in.

Rent Protect
All businesses come across potential bad debts during their lifetime and these costs must be accounted for, otherwise it could destroy a business. It is no different for landlords; these debts are more commonly known as ‘rent arrears’ and are critical for those of you who may have a mortgage to pay, which is why investing in a ‘Rent Protect’ policy is a must.

You never know what might go wrong and all these eventualities can be insured against. With our business heads on we need to calculate the risk to us, the damage they would do to our finances and consider investing in an appropriate policy.

Where to look

The NLA exists to support the private sector landlord and one of the ways we do this is to offer specialist products and services that can be trusted to suit the needs of the landlord and you will find details of these on our web site at www.landlords.org.uk/services 

There are lots of other risks to consider, financial and political, and we can’t protect ourselves from all of them but we must wise up to those which are foreseeable and controllable if we want to reap the rewards of our investment.


Filed under: NLA

Could this be the start of rent controls in Scotland? Have your say! http://www....

Facebook - 6 October 2014 - 2:37pm
Could this be the start of rent controls in Scotland? Have your say!
http://www.landlords.org.uk/news-campaigns/news/consultation-on-new-tenancy-the-private-rented-sector


Consultation on a new Tenancy for the Private Rented Sector | National Landlords Association
www.landlords.org.uk
The Scottish Government have launched a public consultation on the development of a new type of tenancy for the private rented sector. This is the most important consultation on landlord/tenant legislation in over 25 years and will potentially affect every landlord, letting agent and tenant in Scotl…
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