“How To Select The Best Landlord Association” written by Mike Marko.
Are you planning to join a landlord association?
Becoming a member of a landlord association can provide you with a lot of benefits. And if you plan to join one it’s good to have a basic background knowledge about landlord associations. Joining an association without any knowledge about it could negatively affect the way you manage your rental property business.
It’s beneficial for property managers to join a landlord association to help them learn more about dealing with problems when managing rental property businesses. That’s why today we’ll talk about landlord association.
Picking A Landlord Association For You
When running a residential property management business, it is important to have a book of references or associations that can help you in addressing needs and issues that could arise during the course of doing your business.
Finding a good landlord association to help you in growing your property management business is highly recommended.
What exactly is needed in a landlord association?
Before we answer that question, let’s first start with identifying what landlord associations are all about…
What Is A Landlord Association
A landlord association is a support network for residential landlords that can offer resources and training on everyday issues confronted by property managers and landlords. Landlords can ask for help and practical advice from a good landlord association. Along with that, the association is where landlords could ask for advices and get resources regarding their property or their tenants.
It is very common for the laws regarding the rental properties to be frequently changing. New regulations and legislations are passed regularly. Landlord associations help to keep their landlord members informed and updated about the new or incoming laws that they need to follow.
Some larger landlord associations can provide its members the following:
– telephone support
– useful resources such as tenancy agreements
– all types of possession notice
– rent arrears letters
– inspection letters
Benefits Of Joining A Landlord Association
Successful and experienced landlords and property managers would suggest you to join a landlord association as it provides a lot of useful benefits and resources.
Let’s take a look at the common benefits that most landlord association would offer to its members:
- A landlord association would give advice and support regarding any landlord-related issues
- In-depth analysis of current landlord issues in your area
- Will keep you updated with the changing or new landlord regulations and standards
- Informs you about the new laws that are being introduced/discussed or currently changing in the court
- You’ll be provided with the analysis and explanation of complex legislations
- You can easily get legal documents, tenancy agreement templates, and eviction notices
- You can have discounts on commercial services
- Meet fellow landlords to listen and discuss landlord issues
- Strengthens the voice of the landlord community especially when petitioning against unfair negotiations
Main Types Of A Landlord Association
Landlord associations vary in size, knowledge and geographic information. Most of these associations that are running today are very different from each other. Some of them have thousand members and spacious offices while others have the opposite.
In UK, there are three types of landlord association and these are national landlord associations, pseudo national landlord associations, and local landlord associations.
Let’s take a look at the differences that each UK landlord association offers for their members…
1. National Landlord Associations
The national landlord associations are made by landlords for the benefit of their fellow landlords.
National landlord associations have a campaigning element that helps them in making representations at national level of government. They also have policy makers on laws and regulations that affect the Private Rental Sector (PRS) and the interest of private landlords.
National Landlord associations are single interest group company owned by the members.
The National Landlord Association or NLA is one of the biggest of the landlord associations.
This landlord association offers all the support and expert advice that most landlords and property managers need. Their services are helpful in dealing with every aspect of managing a rental property business.
The NLA also offers their support and services to established landlords that has larger portfolios than their common members. This association currently have a thousand members. All of them can undergo the association’s landlord training courses, receive news, advice, or join a discussion to their landlord forum.
The RLA or Residential Landlords Association is the leading voice for landlords in England and Wales. They are the first national landlord association in UK and they are offering a wide range of vital business services such as advices, information, education and a powerful voice in government.
The Residential Landlords Association’s primary goal is to help landlords to achieve their success and ambitions. Aside from that, they also have other missions such as…
- To positively influence local and central government by developing significant campaigns and policies.
- To provide solutions for their member’s concerns and problems.
- To provide their members with the best treatment.
- To give the most accessible and updated news and advices to their members using their landlord advice team.
- To provide learning and development opportunities.
- To keep their members informed and updated with rental laws.
- To always work with integrity and honesty.
- To provide a reliable support services along with guaranteed discounts on landlord services.
2. Pseudo National Landlord Associations
The pseudo national landlord associations are made by individuals or group of people who wants to earn money by charging their members for the services and resources that they are offering.
Usually, pseudo national landlord associations have a free website for their fellow landlords. The website helps their fellow landlords with information and resources while earning money from them at the same time. The website’s profit would either come from advertisements and marketing or if a landlord buys insurance or secures a BTL mortgage through them.
The associations that fall into the pseudo landlord association category include The Landlord Association and the Guild of Residential Landlords.
The Landlord Association claims to be the biggest but free landlord association in the UK. Their services include providing the latest news and advice about rental laws and buy-to-let investments. Their website is different from other landlord associations and landlord information websites.
Here are some of the reasons why The Landlord Association is one of the significant landlord website in the UK.
- The Landlord Association receives more traffic than any other landlord websites in the UK.
- They have the most number of registered landlord members than any other association in the UK.
- They also have more pages of useful information than any other landlord sites.
- Their website has a high rank on any landlord related searches.
- They are the leading supplier of landlord related news than any other websites.
- Has unique features and they have more user friendly applications than other websites.
- Totally free to use and ongoing.
The Guild of residential landlords is one of the landlord associations that operates nationally.
Their association provides personal service and advice to their landlord members. Their services are not offered for free and they provide reliable assistance in resolving their member’s problems. They are also an important resource for giving professional advices as well as keeping their website and forms updated with the current news regarding rental businesses.
The Guild of residential landlords could give advices about the following:
- Granting an assured short hold tenancy
- Tenancy deposit schemes
- Protecting and unprotecting a deposit
- Serving possession notices
- Houses in multiple occupation
The members of Guild of residential landlords are updated through emails. Their members will receive an email notification whenever there are new articles or form posted on their website. The email usually contains a link to an important article.
3. Local Landlord Associations
The local landlord associations are mostly established by small number of landlords on a particular area. The local associations only run for the benefit of the landlords in a specific area.
Usually, the local landlord association are working with local authorities to ensure that the opinions and voice of the local landlords on their area are not ignored.
Also, the local landlord associations play a huge role in fighting local landlord licensing schemes. This includes… The creation of article 4. It is the directions that tighten the planning regulations about the changes of the usage of requirements for HMO properties. Particularly in areas of high student concentration under threat of the so called ‘studentification’.
Final Thoughts On Picking The Best Landlord Association
This blog post discussed what you need to know when it comes to a landlord association. Landlords deal with problems in managing their rental property businesses. They need guidance to help them do the right thing when problems occur.
In this blog post we covered the different types of landlord association. We also discussed how each type of landlord association can serve their members. You should choose the landlord association that would be best for your business situation.
Landlord associations exist to help and serve for property managers. A landlord association can help property managers by being a great learning resource. Therefore, I recommend that property managers join a landlord association.
If you have any questions about a landlord association, feel free to comment them below.
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