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Follow on Google News | Ignorance Is Not A Legal DefenceHow does legislation affect the private rental sector landlord? How does the media see the landlord?With new rules and regulations being introduced frequently how do UK landlords stay one step ahead?
By: Mike Clarke MyPropertyPowerTeam.co.uk It could be the smartest move you ever make! The media have always helped shape popular opinion, focusing on issues and reporting views and opinion as fact, creating news, moral attitudes and spreading widespread doom & gloom. They have helped generate social & class 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. Media 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 & 80's. Broad 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. However, 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. Professional 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. The problem is that the professional landlord only counts for 57% of all residential landlords, according to recent figures from the National Landlords Association. The reality is that some landlords are just everyday people, having become “accidental” It 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. The National Landlords Association (NLA) say that 43% of landlords entered into the residential lettings market by “accident” These “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” The NLA estimates that there are now 50 Acts of Parliament and 70 separate sets of regulation affecting landlords with new legislation coming into force all the time. 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. There 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 http://www.mypropertypowerteam.co.uk REMEMBER IGNORANCE IS NO DEFENCE! # # # About MyPropertyPowerTeam.co.uk Written and compiled for all levels of property investors by successful property investors. Access and information to all things property investment related. THE Business Directory for UK Property Investment - Listings, Links and information for all things property investment related. Every resource needed to profit from property! Over 1000 property professionals who specialise in property investment listed on one site End
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