Delivering Excellence in the PRS Carolyn Uphill pdfs/Presentations... · 2013-05-17 · Delivering...

www.landlords.org.uk

Delivering Excellence in the PRS

Carolyn Uphill

Deputy Chairman

National Landlords Association



Why Does the PRS have such a Poor Reputation?



The Minority get the Sector a Bad Press

The Media Pick Up on the Worst Cases Rogue Operators / Environmental Health /

Illegal HMO’s

Homelessness / Illegal Immigration Provide Vulnerable Clients for the Opportunist

Beds in Sheds / Overcrowding



Whilst there is a Shortage of Supply there is a lack of upwards pressure on standards

If Government could ensure that the homes that are needed are built

Effect of the Web Witness results on Student Market



Is It Out There? Much of the PRS is willingly providing

good homes for the majority of tenants



82% Tenants Happy with their Landlord ( NLA Tenants Index Qtr 3)

So What are the 82% Doing to Get it Right



Success through balanced partnerships Professionalism Mutual Respect and Recognition

• Landlords / Tenant • PRS / Government • PRS / Local Authorities


Landlord & Tenant in Partnership

My House Your Home



Landlord • Acts Professionally

• High Standards of Accommodation and Back Up

Tenant • Treats the house as their home – takes care of it

• Pays all the Bills / Rent Promptly



My House Your Home



So What Else are the 82%

Doing to Get it Right


No Matter How Landlords Start Out! •Accidental Landlord

Inheritance Can’t sell and need to move Partner’s House Going to University

•Investment •Pension Provision

Good Landlords Adopt a Professional Approach – and Operate in a / Businesslike Manner



Professional Approach

With a Professional Approach The Landlord Recognises that as with all businesses there are

•Rules & Regulations (50 Acts & 70 Regulations) •Penalties – Civil & Criminal for getting thing Wrong •Ignorance is no defence •The Buck stops with THEM



Recognises that as with all businesses IT PAYS DIVIDENDS TO

•Run their Lettings Business PROFESSIONALLY

•Keep Standards High

•Get Trained / Knowledgeable / Keep Up to Date

•Ideally Gets Back Up–By Joining their TRADE ASSOCIATION



Landlords who Plan to Grow Their Portfolios

•Actually PLAN!

•Decide on / Select and Understand their Market

•Choose their Location Accordingly

•Buy Right – Make sure the Returns Stack Up

•Talk to Everyone – Other Landlords/Agents/Local Authorities

•Spend Wisely – invest in ‘Robust Quality’

•Save where the Market is Competitive – on insurance etc



SELECTS CLIENTS WITH CARE

Remember that the landlord is giving their tenant Possession of the Property & potential Credit

Takes References Guarantors Checks Affordability



For the Landlord who has a Mortgage and Overheads to Pay

RENTAL INCOME IS NOT JUST PROFIT

So he Acts Early on Arrears It does no-one a favour to let late payments accumulate IS FIRM and BUSINESSLIKE WHEN REQUESTING PAYMENT

Never Threatens Or Harasses

Sticks to Facts / Establishes a Timetable



GETS THE PAPERWORK RIGHT

If the ‘Business Contract’ is faulty from the start the Relationship will FAIL

Tenancy Agreement Deposit Protection Inventory

If needs to Serve Notices gets help to get them ‘Right First Time’



PROFESSIONAL LANDLORDS TREAT THEIR SUPPLIERS RIGHT

Recognising Prompt Payment and Good Relations

pay dividends when you need to call a plumber out at 1am!



Above All

PROFESSIONAL LANDLORDS TREAT THEIR TENANTS RIGHT

IF YOU WANT QUALITY TENANTS PROVIDE A QUALITY PRODUCT



If the property is ‘tatty’ on hand-over what incentive is there for the tenant to keep it nice

Professional landlords clean and refurbish between tenancies

Redecorate during a tenancy to a Regular Schedule

If there is a maintenance problem they respond quickly



Professional Landlords Get to Know and Understand their Tenants

NLA research tells us that tenants value Landlords who are Friendly Flexible With a Sense of Urgency



PROFESSIONAL LANDLORDS ARE REALISTIC ABOUT WEAR & TEAR

they recognise that

Tenants won’t look after things the way they would Some wear and tear in inevitable This will be greater with Families / Sharers



PROFESSIONAL LANDLORDS ARE PRAGMATIC ABOUT REPAIRS

By Requesting a Repair the tenant is helping them Maintain their Property Keep their Business (Tenant Index 24% 2-4/42% 4+Yrs)

So They Use it as an ‘Improvement Opportunity ‘to INVEST In Their Property



The Buy to Let Business can be

Challenging

The Professional Landlord Learns From Mistakes

Has a Back Up Plan

Is a Member of a Trade Association with a FREE Telephone Advice Line

Invests in taking the right advice



So if we can agree that engendering a Professional Approach is critical to Delivering Excellence in the PRS

HOW DO WE ACHIEVE THIS?



Not By Over-Regulating

But By Partnership, Respect and Recognition

We Need Good Partnerships with Government

and Local Authorities which recognise the value of the PRS and supports the good landlord



Problems will not be solved by - Excessive Regulation, Control, Licensing, Fees and Penalties

Which put a cost and admin burden on the responsible landlord and have little or no effect on the rogue operators who operate below the radar



L.A.’s Supporting the good landlord

Valuing Commitment to Accreditation Birmingham - Substantial Discounts on

HMO Licensing

Not Renewing Selective Licensing When Manchester found it had not

achieved the expected results



Being Open to Alternative Routes to Improve Standards after Representations from Responsible Landlords

Instead of Additional Licensing of HMOs Bournemouth working with NLA to promote

accreditation Instead of Selective Licensing

Southend-on-Sea – collaborative approach – Landlords, Police & Residents



If We Accept that

True Rogues are in the Minority 82% of Tenants are happy with their

Landlord

Have to acknowledge some have valid concerns



Why Aren’t Those Landlords Getting it Right

Ignorant of their responsibilities Lack the Knowledge to Get it Right First

Time Failure to understand the Business

Benefits of Being Professional



To Resolve this we need to get all Landlords in the Loop

Membership of a National Trade Association which is committed to Inform Educate Provide Advice Raise Standards Accreditation



NLA ACCREDITATION Landlord Development

Providing the Knowledge to run their Buy to Let Business Professionally

Landlords Can Apply Across their Portfolios Via Classroom Training Courses or On-line

Vital for Nationwide Accessibility to Landlords Whatever Their Circumstances

+ CDP – so kept up to date



NLA ACCREDITATION Able to Announce Today

We are setting an AMBITIOUS TARGET Publically Declaring and Beginning to Work

Towards That All Members not only sign up to our Code

of Practice – as now But are All Accredited By 2020 –

Developed and Keeping up CPD



Not just a Good Idea

Reality for many Landlords & their Tenants

• Good Landlord / Tenant Partnership • Landlord operating in a professional manner

Vision for the Future



Our Objective is to Extend This Professionalism Throughout the Sector by Drawing All Responsible Landlords in to the Loop through NLA Accreditation

Whilst Encouraging our Partners in Government and LAs to concentrate their powers on eradicating the irresponsible

who get the sector a bad name


National Landlords Association 22 - 26 Albert Embankment

London, SE1 7TJ Tel: 0207 840 8900

Email: [email protected]

Web: www.landlords.org.uk


Questions

Carolyn Uphill Deputy Chairman

mailto:[email protected]

http://www.landlords.org.uk/

Delivering Excellence in the PRS Carolyn Uphill pdfs/Presentations... · 2013-05-17 · Delivering...

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