Best Practice for Landlords If The Price is Right? | Discuss

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Best Practice for Landlords If The Price is Right?
29/03/2016
2:04 pm
News @ Tenant Referencing
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As George Osborne warns that the buy to let market faces a fresh crackdown in the coming months, as more thoughtless legislation is heaped onto the private rented sector at Tenant Referencing UK we’d like to ask:

Whereabouts is the best buy-to-let advice in the industry?

We ask this because in the PRS there are many experienced sources who have a wealth of knowledge, but it is a saddening and worrying fact that the majority of those people will only help on the basis of what is advantageous to their business model.  So now that thousands have poured their life savings into buy-to-let properties and already face a punitive stamp duty hike from next month, further measures planned for our industry should now be the ultimate call to action for landlords to redress where exactly they source help and advice from in order to remain solvent in today’s market.

Tenant Referencing Industry Expert Paul Routledge said: ‘At Tenant Referencing UK I have been supporting landlords in the industry for 7 years, unpaid, to promote best referencing practice.

The problem with the PRS is that industry leaders do not tell their peers what is necesserily best for them, they tell them what is best for them. Quite simply, one of the biggest flaws in the industry is that our industry specialists are joined at the hip to companies that promote out of date products or services as best advice. They will happily promote these as best practice if the price is right.

It is a real shame as it leaves new landlords coming into the industry totally reliant on hoping they get the best products; rather than knowing they are getting the best.’

So what do we do, now that we’ve reached this anxious impasse where both government and many landlord services see everything as ‘up for sale’ and just want to milk us for all we’re worth?

Seek out the best

As advocates of proactive tenant referencing protocol, our methods are supported as best referencing practice by the likes of The Property Redress Scheme, MyDeposits and The National Landlord Association, but at the same time ironically seen as a conflict of interest because it is less money in their pocket to promote us as ‘the best.’

Therefore with the latest Right to Rent legislation going live recently, it’s even more important to find the best way to validate the credentials of your potential tenant before they move in to your property. So ask yourself:

Does your landlord association, estate agent or letting agent provide you with a tenant history report provided by their past landlord(s) and/or agent(s)?

Tenant Histories (exclusively available from LandlordReferencing.co.uk) are extremely advantageous to all UK landlords because:

  1. It is the only system that can tell you whether your applicant tenant has had previous rent arrears, property damages, anti-social behaviour, etc throughout their current and previous tenancies.
  2. Exceptional tenants who may not have a great credit rating can build their personal tenant history at LRS with the help of their landlord or letting agent.
    Don’t forget: a person with a good credit score doesn’t automatically make them a good tenant. And more importantly, a person with a bad credit score doesn’t automatically make them a bad tenant either.
  3. As a fully signed up LRS member, the system acts as a firm deterrent; whereby, once tenants have been told that the Tenant Referencing UK system is already in place more often than not they have reconsidered their actions and decided against leaving on bad terms.

As they say: the proof of the pudding is in the eating. And if you’re not accessing these type of tenant histories then you need to ask your provider WHY?

Mary Latham, NLA Representative and true ‘freedom-fighter for landlords’ previously said:

‘Read here why I will never take another tenant without using this service in future.’

So as the government acknowledge the private rented sector simply by piling on extra legislation and milking it for all its worth, instead of educating landlords on their duties, and buy-to-let industry ‘gurus’ tout what is advantageous to them, rather than what is best protocol for landlords; we urge you to join our community today.

What makes Tenant Referencing UK different?

It is not about big databases being used for financial gain by huge financial conglomerates, but about communities of landlords and tenants using databases for the specific purpose of giving tenants better homes and protecting landlords from losing their investments. At LandlordReferencing.co.uk we have created a community of pro-active landlords and letting agents to simply protect one another from rent arrears, property damages, anti-social behaviour, illegal subletting, criminal activity, and so on. Furthermore, our live discussion forums encourage better understanding, communication and relationships between all parties involved in the renting process too – making us the fastest growing tenant referencing community right across the UK.

Related news topics:

BEWARE: Lettings Industry Tenant History Misrepresentation

Agents frustrated with ‘old hat’ tenant referencing protocol

Rise of Online Lettings – What Are You Actually Paying For?

29/03/2016
2:47 pm
Paul Routledge
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Ironically I’ve just spoken to a new member who wouldn’t spend £7 and just wanted to access the Tenant Alerts for free.
No wonder our industry is in such a mess and the government want to clear it up if that is truly the mentality of landlords today! Yell

#FedUpToTheBackTeeth

29/03/2016
3:00 pm
Mary Latham
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And I stand by what I said. I will be advertising a property this week and when I get applicants I will check them through the Service Referencing system here – its a no brainer for me because I am tired of taking risks which cost me thousands when they go wrong.

Every time we let a property we are handing over control of our expensive asset to a total stranger. I would not ask a total stranger to hold my handbag and yet some landlords, and I’m sorry to say letting agents, take less care of their expensive properties than I do of my handbags. The full referencing process reduces my risk and the Rent Guarantee Insurance removes it completely.

Wow 7 years Paul, how time flies thank you for all you are doing to protect the business of private landlords do you think you could do something about George Osborne please?

 

Mary Latham Landlord

Follow me on Twitter @landlordtweets

29/03/2016
4:08 pm
DATA CONTROL
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Hi Mary,

Don’t forget that you can advertise your properties with TR Lettings for just £55; where your property will be on the market with the best advertising portals in the UK such as Rightmove, Zoopla and Prime Location within hours of upload and they will forward you any leads interested in letting your property by email for you to operate the viewings to explain what the local amenities offer and the virtues of your own property.

OR obtain the whole TRLettings Package for Just £145, where you can advertise your property, get full serviced reference AND 12 months RGI!

Find full information by clicking here.

29/03/2016
9:18 pm
Paul Routledge
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Mary 7 years seems like only yesterday aaaagh! The worst thing is educating landlords is like treading water in molasses. I am getting more and more calls from landlords that are taking the cheap options in referencing like open rent who then get crap references out of rent guard from Experian and then can’t understand why they keep getting problem tenants. 

Why will they not learn that blowing on their bread will not give them toast :-)

30/03/2016
8:47 am
PaulBarrett
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Paul Routledge said
Ironically I’ve just spoken to a new member who wouldn’t spend £7 and just wanted to access the Tenant Alerts for free.
No wonder our industry is in such a mess and the government want to clear it up if that is truly the mentality of landlords today! Yell

#FedUpToTheBackTeeth

Paul I wouldn’t object to speaking to some of these idiot LL who don’t wish to avail themselves of your very cost effective services and policies

I believe I am the LL in the UK who has lost more than any other LL

I therefore feel that I can speak with much bitter experience of how someone like me has suffered when it all goes wrong

And I accept it was my stupidity that caused the whole situation

I was a very naive, ignorant and trusting LL

Which is why I will never make sufficient profit to cover all my losses

I will NEVER recover my losses as long as I live

Which just tells you how much I lost!!

All for the sake of NOT having a thoroughly referenced tenant WITH RGI!!!

Get these idiot LL to call me, I don’t mind assisting these idiots to see their stupidity

11/04/2016
12:54 pm
andreac
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Has anyone seen this latest news? https://www.landlordtoday.co.uk/breaking-news/2016/4/hmo-daddy-falls-foul-of-council-enforcement

Another ‘self-styled property guru’ bites the dust?! Cool

11/04/2016
4:27 pm
PaulBarrett
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Love the bit when dopey Haliburton states it was too time consuming to obtain planning permission!!!!

So what should happen is a RRO for all who have rented since he carried out the illegal accommodation adjustments at the affected properties

Then he should be fined

To think this idiot tells people how to do what he does

Hopefully all his other properties will now be checked to ensure they meet all local council regulations

Idiots like this give LL a bad name

His particular business model is clearly not fit for purpose if it involves not adhering to planning permission requirements

He will need to amend his business model

20/05/2016
12:59 pm
Haf***ingHA
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whos seen this then? http://www.property118.com/put…..com/87106/

so property118 has every landlord in the country reading their site plus 200,000? !!!..yeaaaah Wink!

loving the last comment on that thread! Laugh

20/05/2016
2:27 pm
David Price
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Whilst I do not and will not show support for any one lanslord site over another I consider that Mark Alexanders comment “LRS provide an excellent free service which Property118 doesn’t compete with. We advocate membership of their forums and tenant lifestyle referencing.” was fair.

Landlord sits can and should be complementary.  LRS offers the best possible referencing service and 118 potentially offers legal representation at a very high level.

Let us all peacefully coexist.

08/06/2016
9:35 am
Sonny19
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Why isn’t stopping and preventing rogue tenants preferential in this bloody industry?
The industry needs to stop trying to make money out of landlords and actually start helping us, instead of
helping themselves!! Yell

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