stereotypes, moral outrage, celebrity culture and nationalistic
mass devotion. No corner of society has escaped and
as such social thinking has been developed into a mass
mentality. Anyone who dares to think outside the box
when it comes to accepted normality tends to inflame
social attitudes and is immediately labelled as a risk
taker rather than entrepreneur. Mass attitude decides
what is acceptable.
influences public perception. Anyone over a certain
age would say the stereotype of a typical landlord
varies from the farcical "Rigsby" to the
manic "Jerzei Balowski" from TV in the 1970's
sheet readers would tell you that landlords were money
grabbing misers who forced poor unsuspecting tenants
to live in abject poverty whilst they lived a life of
luxury. Tabloid readers would say that Landlords were
bad tempered violent thugs who were only in it for the
money. A stereotype is born. The population in general
would not recognise a landlord if they didn’t
fit into a typical stereotype, even so many remain sceptical
of some deeper ulterior motive for even wanting anything
to do with property during the current economic slump.
landlords are making news and unfortunately not all
of it is good press as more and more fall foul of legal
requirements and end up not only in court but all over
the front pages of the media, reinforcing the stereotype.
portfolio landlords would be outraged to be thought
of acting or behaving in any such stereotypical manner,
even when faced with the most difficult of challenges.
They have worked against the ingrained prejudices of
old to provide good quality housing stock at reasonable
returns. They are decent and law abiding businessmen
and property is their livelihood.
problem is that the professional landlord only counts
for 57% of all residential landlords, according to
recent figures from the National Landlords Association.
reality is that some landlords are just everyday people,
having become “accidental” landlords, who
for a variety of reasons, own property other than their
home and want to let it out in order to meet financial
costs with a small income on top for their trouble.
is not their primary source of income or their passion.
It is a potential financial millstone and many face
a very steep learning curve if they want to survive
the experience, let alone turn a profit.
“accidental “landlords are most likely to
end up either severely out of pocket, in court or even
prison if they are negligent in their responsibilities
toward both their properties and their tenants. Even
if a landlord has just one rental property, in the eyes
of the law they are subject to the same laws and regulations
as the portfolio landlord with fifty or a hundred properties
and must make sure every property is compliant with
the latest gas and electrical regulations, all the provisions
of the various landlord and tenant Acts as well as the
safety of furniture and furnishings.
Many “accidental” landlords are inexperienced
and are unsure where to turn for advice and are unaware
of the consequences if they fail to comply with the
myriad of legislation. Many are totally unaware that
they require permission from all relevant parties, including
the mortgage provider, to be able to let the property
in the first place.
Help for the hapless is at hand. Joining a local landlord
association can be a great benefit to landlords as they
offer guidance, help & encouragement along with
access to various resources such as training workshops,
telephone helplines and they keep members up to date
with the latest changes in legislation. This often has
some cost implication but can prove invaluable if you
suffer a problem.
is also a wealth of information available via the internet.
There are many useful websites that offer advice, guides
and information for all landlords. The Department for
Communities and Local Government (DCLG) website has
a section on renting and letting, Your Move also has
useful information for landlords and there is access
to a host of resources through mypropertypowerteam.co.uk
IGNORANCE IS NO DEFENCE!
supplied by Site Administrator MC