PRS landlords warned to remember tenant obligations
Published by Max Salsbury for 24dash.com in Housing and also in Communities, Regulation
Key players move to position private rented sector as tenure of choice to solve housing crisis
An organisation that represents landlords in the private rented sector has warned property owners to remember their obligations to their tenants.
Recent research by the National Landlords Association's (NLA) found that the proportion of part-time or ‘amateur’ landlords is now at its highest ever level, comprising 70% of the sector.
With this in mind, the NLA is reminding all landlords of their obligations toward their tenants and the importance of ensuring that good standards within the PRS are maintained.
Richard Lambert, NLA chief executive, said: “These findings tell us that a significant proportion of landlords have only been in business for a relatively short period of time. Even the most seasoned of landlords experience problems, so it is crucial that anyone new to the industry is aware of their obligations and understands that being a landlord involves much more than simply purchasing a property.
“Landlords should make sure they educate themselves as to what is expected of them, legally and professionally, especially if they plan to manage the properties themselves. Not knowing your obligations as a landlord could result in serious problems, financial as well as legal. A tenant should be safe and comfortable in their home and ignorance is no excuse.
“In order to ensure good standards in the sector, anyone who is thinking of becoming a landlord should do their research first and make sure they continually keep up-to-date with legislation and good standards of practice. As the leading landlord association, landlords can rely on us as a source of valuable information and advice."
The NLA found that 27% of landlords have been letting for less than five years, with 14% letting for just two years; 21% landlords have been letting for between six to 10 years, and just over half (52%) have been letting for more than 10 years.