Myth-busting – Electrical Safety installations Act 202011:19 AM, 3rd August 2020
About 6 days ago 74
At the moment the campaign is run by Mark Alexander, founder of Property118.com. In due course a committee of volunteers will be appointed to form a steering committee with a view to running the campaign as a not for profit organisation, probably as a company limited by guarantee.
All money raised in the form of sponsorships will be reinvested back into the promotion of the campaign.
Yes, subject to raising enough money a website will be created so that sponsors can each have their own profile page which tenants will be able to find via search engines.
The long term vision is awareness and for tenants to know to look for sponsors.
Yes, it is likely that the campaign will use its resources to combine with landlord associations and other organisations to lobby for the rights of landlords. Significant interest has been expressed in simplifying possession procedures for tenants who do not respect the terms of their tenancy agreement.
It is not a requirement for Sponsors of The GOOD Landlords Campaign to join a landlords association but we do encourage sponsors to join at least one and also to become an accredited landlord. The GOOD Landlords Campaign is entirely independent and has no allegiances to any particular landlords association.
No landlord who chooses to sponsor The GOOD Landlords campaign will be compelled to offer a “deed of assurance”. A key point here is that both Landlords and Tenants will have the choice. Landlords may choose never to offer a “deed of assurance” but still be supportive of the principles of The GOOD Landlords Campaign.
What terms do you suggest?
This really depends upon a tenants stated requirements and demand for your property. Most established landlords recognise a strategy of advertising a property at slightly below the market rental value in order to attract as many interested parties as possible and have their pick of good tenant prospects. Where a longer term tenancy would suit both landlord and tenant you might wish to suggest that you will offer a “deed of assurance” for say five years and a rebate of five times the rental deposit if you service notice within that time-scale. You could just as easily offer three, seven or 10 years and a matching refund of rental deposit. There is nothing to stop you mixing and matching though, remember, it is a negotiation, e.g. a 10 year “deed of assurance” with a five times deposit refund if you serve notice within that time-scale. Also remember that the negotiation works both ways. Therefore, you may wish to ask your prospective tenants to match your commitment with a premium from them. As an example, if you are advertising a property at a rent of £750 pcm and your tenant wants a five year commitment from you with a five times deposit refund commitment if you serve notice within that time-scale you may wish to balance that by charging a premium of say £62.50 pcm, i.e. £750 deposit multiplied by five months refund commitment made by you = £3,750 divided by 60 months = the premium payable by them of £62.50 pcm.
You will receive a welcome email with the following attachments:-
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More