Are you managing your rented property within the law? – Landlord LawMake Text Bigger
Are you managing your rented property within the law? Many landlords think they are – only to find to their cost later that they are not.
There are four traps that landlords’ tend to fall into:
1. Thinking that managing rented property is easy
2. Thinking that they are bound to be a good landlord ‘because they are a nice person’
3. Thinking that having done one training course they can sit back and not do any more
4. Thinking that training is a waste of money
1. Thinking it’s easy
If you don’t know much about renting property you often think it is a ‘piece of cake’. After all – what is hard about finding someone to live in your property, getting them to sign a document downloaded from the internet (why pay when you can get it for free) and then leaving them alone.
Experienced landlords will know that all of the above could be a recipe for disaster.
2. Thinking that being a nice person is enough
Sadly, it’s not.
I know of a very nice and well-meaning landlord whose tenant died because she did not know about or do any gas safety checks.
3. Thinking one training course is enough
Landlord and tenant law is a massive area and is constantly changing.
I have been working in this field for over 20 years and I doubt that I know everything (although I know quite a lot). Regular training is essential if you are managing your properties yourself.
Or indeed even if you’re not – how can you tell if your agents are doing a good job if you don’t have any understanding of what they should be doing?
4. Thinking training is a waste of money
Being a landlord is a business activity and all business owners will benefit from good and relevant training.
- Some training will help you earn more money – for example by helping you improve your offering so you can charge more for it
- Some training will help you save money – for example by avoiding penalties and fines
- And some training will just help make your life easier – for example by helping you to do things quicker and better, with fewer mistakes
So where is all this leading?
I mentioned in a previous post that I was looking to do a new training course. Well, this is now well under way and we have started taking ‘early bird’ bookings.
Its an interactive online course in five parts with an optional 5 hours CPD.
Plus, we have released, for free, our initial HMO 101 online course so you can see for yourself the sort of thing we are doing.
Essential for landlords renting to sharers
The HMO course is a ‘proper course’ and is designed to convey in an easy to understand manner the main elements that HMO landlords (or anyone renting to sharers) need to know about.
Please go and take a look at it. It’s here.
The ‘Early Bird’ offer is here and will end on 20 September. There are separate versions with and without CPD.
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