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NLA Yield Calculators | National Landlords Association
Every so often it’s helpful to get a picture of how you’re doing in the profit stakes so we thought we’d give you a helping hand. The yield calculators below are designed to give you a rough idea of the financial status of your property investment.
Join us as a Free Landlord Associate | National Landlords Association
The NLA is committed to raising standards across the private rented sector. While we are primarily a membership organisation, we believe we should support all landlords who share our commitment to managing tenancies properly and professionally.
Effective Letting: Rent arrears
This video is about Effective Letting: Rent arrears
NLA Call Credits | National Landlords Association
You could turn to the internet, but that’s not guaranteed to give you the answer you’re seeking. What’s more, the answer may not even be correct. It could make matters worse!
How to choose the right supplier | National Landlords Association
When choosing the right supplier: Work out what your requirements are It is important to be clear about what your requirements are. Requirements need to include exactly what the work is that you need doing, how long you have to complete the work and an idea of the budget available. This will help yo…
Effective Letting - Ending a tenancy
This video is about Effective Letting - Ending a tenancy
Have your views heard and please fill in the consultation on Selective Licensing in Croydon.
NLA Meeting: Proposed Licensing Scheme in Croydon | National Landlords Association
Croydon Council wants to license all privately-rented homes in the borough. The measures will lead to higher costs for landlords and rent increases for tenants. As a local resident, you have the right to have your voice heard. You can contribute the consultation exercise by helping us demonstrate th…
'Risk' landlords could pass cost of £200-a-year licence fee to tenants, says Croydon Council...
LANDLORDS in Croydon could pass on the cost of a £200-a-year licence fee to their tenants, the council's housing chief has admitted. Croydon Council is consulting on plans to introduce a...
Secretary of State officially opens distribution centre
EnviroVent was delighted to welcome the Rt Hon Dr Vince Cable to mark the official opening of EnviroVent's new distribution centre in Harrogate.
Home Ventilation Systems & Domestic Extractor Fans
EnviroVent offer award-winning domestic ventilation systems and extractor fans to remove condensation, mould and damp problems from your home.
Effective Letting - Communication & Repairs
Effective Letting - Communication & Repairs
Both the gas and the fire door safety week campaigns are upon us. It is a great time to promote the importance of providing a safe environment for tenants and the importance of safety in private rented accommodation cannot be under-stated.
Landlords must take their responsibility and duty of care to tenants seriously in order to avoid preventable injuries and fatalities caused by fire or gas in the home.
It is important to be aware of what you are legally required to do as well as what is expected of you.
Can you smell something?
When it comes to gas safety it is important that annual inspections of all gas appliances, including boilers, gas cookers, gas fires, pipework and flues are carried out only by a Gas Safe registered engineer.
The legal requirements around the installation of Carbon Monoxide alarms differ in different countries of the UK, but the NLA advice is simple: fit audible alarms in any property that has a gas supply. Suitable alarms can be found in the NLA online shop. Remember, you cannot smell or see Carbon Monoxide, it is known as “the silent killer”
The NLA has also put together an informative video on gas safety and your responsibilities which we recommend all landlords watch.
Put wood in hole
When it comes to fire safety it is important that the residence has been assessed for potential risk. In keeping with the risk-based approach of the Housing Act 2004 and the Regulatory Reform (Fire Safety) Order 2005, landlords should (and for certain properties must) carry out or arrange for a fire risk assessment in order to identify what fire hazards exist, what the risks to occupants and visitors are, and the appropriate action to take to mitigate and control the risk of fire in their properties.
The NLA strongly recommends that all residential properties are fitted with fire detection and alarm systems and that an adequate means of escape is established in case of fire. Again specific requirements differ in different countries of the United Kingdom.
Wherever fire doors are required, we recommend that good quality certificated fire doors are fitted in order to keep a fire adequately contained and to minimise the risk to tenants and damage to the property.
We also recommend that landlords make their tenants aware of the importance of not obstructing or propping open fire doors for their own safety, especially in communal areas.
Our video informs landlords how to carry out a fire risk assessment and is essential viewing for landlords of all residential properties. If a landlord has larger HMOs this additional video will cover what to do.
Knowledge is power
The NLA library has a wealth of information which can guide anyone who isn’t sure what they need to do. The online library on the NLA website offers guidance to support landlords through the process.
Other useful resources:
NLA Library – Gas safety information
NLA Library – Fire safety information
Filed under: NLA
Join the campaign against the Croydon Council’s ‘Tenant Tax’ 25th September 7pm...
25th September 7pm.
Gas Safe News | Nearly a million privately rented homes could be at risk.
Despite landlords having a legal duty to tenants to ensure all gas appliances and flues are safe, new figures from Gas Safe Register reveal private tenants are at greater risk from a gas explosion, fire, leak or carbon monoxide (CO) poisoning than homeowners.
NLA Mortgages has just launched an excellent buy-to-let exclusive with Hinckley & Rugby Building Society. The product is a 2.50% 2 year discounted product with a £1995 completion fee. There is a free valuation and no early repayment charges.
2.50% 2 year discount up to 75% LTV with a £1995 completion fee. There are no early repayment charges and a free valuation for properties valued up to £1,000,000.
If you would like to discuss your mortgage requirements, please contact the Support Team on 029 2069 5555.
‘I rented for years and I loved it — no responsibilities, no clearing of gutters. It left me free to actually enjoy my life.’
Do you agree with Kevin?
Rent, don't buy, urges TV host
Kevin McCloud who has presented Grand Designs since 1999 believes that the government's plan to build 250,000 new homes a year will fail, claiming the properties will be too poor quality to attract buyers.
How effectively do you manage your rental income?
Carolyn Uphill, NLA Chairman discusses the importance of planning and financial protection Having looked at our recent research it is quite worrying that more than a quarter (27pc) of landlords who...
Carolyn Uphill, NLA Chairman discusses the importance of planning and financial protection
Having looked at our recent research it is quite worrying that more than a quarter (27pc) of landlords who let out a single property break even or run at a loss, but with some good financial management and appropriate safety nets in place this can be avoided.
There are various reasons why a person becomes a landlord, from it being an investment opportunity to it being more beneficial financially to let a property than to sell. However if they are barely breaking even or are actually running at a loss landlords should step back and reassess how they are managing their business. It should be stressed that taking a professional approach to letting property and using all available help can make a huge difference.
Managing your portfolio
Keeping an eye on the outgoings as well as the income can be very useful in pinpointing any shortcomings. One of the many services that the NLA offers is our online rent management solution, Rent Manager. Like all of the NLA’s services, Rent Manager is designed by landlords, and aims to make the task of rent management much easier, saving you both time and money, no matter the size of your portfolio.
Using Rent Manger, which is free to full NLA members, allows you to:
- Set-up different tenancies for all tenant and property types e.g. HMOs, student lets, LHA tenancies, full property lets etc.
- Create rent schedules for tenants in properties/rooms
- Enter and keep track of full and partial rent payments
- Receive rent arrears alerts
- Record all tenant communications
After having put in place a rent schedule it will be much easier to act quickly and address any issues such as arrears. Leaving arrears for even a month or two without addressing it could come back and bite you as debt could potentially mount up to an unmanageable level leaving you out of pocket and with an even more difficult task of rectifying the problem without any further costs. We recommend that all landlords should budget for 10 months’ rent in a year in order to cover any periods of voids or arrears.
A tenant who can’t, or won’t, pay the rent is every landlord’s worst nightmare. Even when including a two month buffer in your budget, a landlord could still be faced with arrears, which is all the more concerning if the profit from the rental income is relied on for mortgage repayments. This is where a service such as the NLA’s Rent Protect could prove invaluable as it protects you if a tenant fails to pay the rent.
Rent Protect covers landlords for up to £2500 per month in unpaid rental income and it covers legal costs to help you in the recovery of unpaid rent.
This gives you peace of mind that you won’t lose out if your tenant can no longer pay the rent and will give you the time to consider your options.
For more information about Rent Protect visit http://www.landlords.org.uk/services/nla-rent-protect
Filed under: NLA