Previously on this blog, we've discussed the distinct advantages of industry accreditation for tradesmen and those working in the landscaping industry. However, this time, we turn our attention to the benefits of accreditation for property managers.
Joining a landlords association can provide a major boost – whether you're a first-time landlord or own an impressive portfolio of properties. Membership will mean a small cost, but we think it's money well spent.
Here's why.
Benefits of joining
Every landlord association is different, but they all offer similar perks:
- The biggest benefit is accreditation. You'll get certification that you meet professional standards, which will show tenants that you're trustworthy.
- Membership gives you access to a library of free resources including guides and lawyer-approved templates. This means you have easy access to important documents such as tenancy agreements, eviction notices and rent increase notices.
- Most professional bodies have online forums and run regular networking events, allowing you to share your knowledge and experiences and learn from other landlords.
- Some landlord associations also offer discounts on trade magazine subscriptions, information on residential landlord insurance and industry training events. They also often offer free advice for landlords, which is useful if you run into problems with tenants or neighbours.
Leading landlord associations
- The National Landlords Association (NLA) is the UK's largest organisation for landlords. Membership starts at £50* for a basic account and up to £184* a year for a business membership Individual and family accounts are also offered, with discounts if you sign up for three or five years.
- The Residential Landlords Association (RLA) is a big voice for landlords operating within England and Wales. Fees begin at £79.95* per year.
- The biggest player north of the border is the Scottish Association of Landlords (SAL). SAL membership starts at £90* per year, but you can get combined membership with the RLA for £98*.
- Northern Ireland is represented by the Landlords Association Northern Ireland (LANI). It costs £75* per year to be a member.
- Many local authorities throughout the UK also offer their own accreditation schemes.
*Prices subject to change
How membership can help you
By joining one of these landlord associations you gain a competitive edge. Tenants know to look out for accredited landlords, and will feel more comfortable renting from you if you're certified. Having a network of supportive colleagues that you can turn to for advice (and a library of useful templates) also helps your business run smoothly.
Although landlords are often under pressure to cut costs, this is definitely an area where you should be spending money. Another place to avoid cutting corners is with insurance – find out more about residential landlord insurance from AXA.
