JANUARY
The NLA begins its campaign to abolish unfair letting agency renewal fees for landlords in London and the South East. This regional anomaly means landlords who use letting agents on a ‘let only' basis continue to be charged up to 15 per cent if tenants choose to renew their tenancies for a further fixed period. The Office of Fair Trading soon got involved and is taking a High Street letting agent to the High Court in 2009 in a bid to outlaw these unfair terms in the contracts between landlords and their agents.
FEBRUARY
The private-rented sector in Scotland continues to develop apace and so the launch of NLA Scotland at the Scottish Parliament by Stewart Maxwell MSP was especially welcomed by decision-makers north of the border. Balancing safeguards for tenants' interests and setting the right conditions for the sector to grow is a laudable aim and one which NLA Scotland is helping to achieve.
MARCH
"Just because a residential housing block is owned and run by a large corporate, it doesn't guarantee that tenants will be better catered for or that standards will improve. ‘Bigger' does not necessarily mean ‘better'." Although the NLA is not against increases in institutional investment, the important factor is a level playing field for all types of landlords in terms of financial incentives. Build-to-let is not the catch-all answer to the UK's housing problems.
APRIL
A large number of professional, portfolio landlords do not use the services of a mortgage broker to find the right mortgages. The NLA launched NLA Mortgages, a free-to-use sourcing and quotation system designed to enable landlords to search from a panel of competitive buy-to-let mortgage lenders. For every mortgage placed, NLA members receive a guaranteed cashback of 0.25 per cent of the loan amount. Not a bad little sweetener as the credit crunch starts to bite.
MAY
Not enough landlords are taking advantage of the Landlords' Energy Saving Allowance, which is a tax break enabling landlords to claim on their tax return against the cost of buying and installing energy saving items. With the introduction of energy performance certificates only five months away, the NLA encourages all landlords to invest in improving and maintaining the quality of their properties.
JUNE
The NLA led the way in the controversial area of sale and rent back, publishing a Code of Practice for landlords operating within this part of the sector. Increased transparency, consumer redress, raising standards and independence all take centre stage to try and improve protection for vulnerable consumers. Later in the year, the Office of Fair Trading published its review of sale and rent back recommending the Government move swiftly to regulate.
JULY
A merger between the NLA and the National Federation of Residential Landlords (NFRL) created the largest representative body for landlords in the UK. A national unified voice for the private-rented sector is well overdue. The larger NLA, combining the strengths of both organisations, will better represent the needs of all landlords at a time when the private-rented sector faces major challenges. The merger will mean a wider range of products and services being made available to members as well as a significant development of local landlord networks.
AUGUST
A year after the supposed beginning of the credit crunch, the NLA offers its wisdom to landlords on how to survive these leaner times. There are still some bargains to be had, but this type of market is not for the faint-hearted. The first rule is research, the second rule is research and the third rule is research. Landlords should always check the local rental market to ensure they are not being out-priced. They also need to be aware of what type of tenant they are targeting as this has an impact upon rent level and specification.
SEPTEMBER
Happy birthday NLA! For over 35 years, landlords up and down the country have benefited from an organisation which represents their views to decision-makers at all levels. The private-rented sector has changed beyond recognition during this time. It is now more important than ever for landlords to stay up-to-date with relevant changes in the rules and regulations governing the letting of residential property. However, the NLA warns against relying too heavily on internet sources which may offer incorrect information.
OCTOBER
Dr Julie Rugg had been commissioned by the Government to conduct an independent review into the private-rented sector. Ten months later, the now-published review marks an important watershed and a move away from myth-driven policy decisions towards evidence-based recommendations which acknowledge the important contribution small landlords make to the housing mix. Her strategic assessment that does away with the claim there is some kind of major crisis in the sector.
NOVEMBER
The first ever NLA National Conference gathers together over 125 landlords to hear from Government minister, Iain Wright MP, Dr. Julie Rugg and a wide range of experts on issues as broad reaching as possession, sale and rent back, energy performance, local housing allowance and landlord licensing. Being a landlord can be a lonely experience and both local and national events are an important opportunity for networking and knowledge-sharing. See you next year!
DECEMBER
Rent arrears are on the increase with 71 per cent of landlords expecting a rise in arrears during 2009. This paints a worrying picture for some landlords, who are clearly concerned about the effect the credit crunch is having on their tenants' ability to keep up with rental payments. At a time when everyone is keeping a closer eye on their finances, landlords need to be able to rely on the steady income received through rent. The consequences of not receiving rent could be very serious in terms of potential repossession and impact on housing supply.
David Salusbury, Chairman, NLA, speaking about the NLA objectives for 2009, said:
"Next year will see the NLA redouble its efforts to encourage Government to refrain from further bureaucracy and over-regulation in the sector. We believe the next 12 months will be an exciting time for professional, portfolio landlords as they seek to grow their lettings business.
"However, we are all too aware of those landlords who are struggling in the current economic climate and the NLA will be working hard to offer advice and support to our members who find themselves in financial difficulty.
"The NLA will continue to develop and grow as the pre-eminent organisation for landlords in the UK and for the private-rented sector. The nation's landlords now provide accommodation for over three million households: this number of individuals cannot be ignored. And we believe - in view of what the Minister said at the NLA National Conference - that Government not only feels it should listen but is actively seeking our views. We have come a long way."
