The Devil is in the Detail

Mary have you ever thought of working with the CML.
This so that an information pack would be given out to the mortgagee when they complete purchase of the BTL property.
This would be to the advantage of the BTL mortgage company and the new landlord who would have all the latest information landlords would be required to enforce.
This information pack would be updated with new mortgage issues.
It is clearly in the interests of both mortgage company and landlord that the landlord is complying with ALL relevant regulations.
Not doing so could mean in extremis dead tenants , destroyed property caused by gas cheques etc not being carried out.
Inability to repossess property by mortgage company due to deposit protocols not being adhered to etc.
The CML clearly needs to be more responsible in information provision to it's landlord clients.
ALL parties would benefit form such an information pack.
There needs to be joined up thinking from the major landlord associations, ARLA, Shelter and any other organisation or interested parties that have an interest in there being correct provision of information to existing and prospective landlords.
I for one would welcome being able to register with Shelter as a landlord, whereby I would receive continual updates as to my responsibilities as a landlord.
This on the basis that Shelter are pretty much on the ball when it comes to latest information affecting the rental market.
Indeed I would go as far as saying that such a landlord registration scheme at Shelter would give responsible landlords additional marketing advantage over landlords that do not wish to register with Shelter.
Tenants would seek out landlords who have registered with Shelter as they are hardly likely to if they are a rogue landlord.
Therefore all us good landlords should get good tenants coming to us as they would see we a re Shelter registered.
What do you think.
Clearly there would be logisitical problems but the benefits for AL are plain to see!!!?

Paul, I think your CML idea is a great one. I also like the other idea except I think the Salvation Army would be a far better choice. I see Shelter as a machine which raises millions and spends it all on propaganda and little else. When did they ever provide a roof over a persons head, open a soup kitchen, re-unite the homeless with their families etc. Being clever at PT does not make Shelter the landlords perfect partners.

I am actually working on something similar at the moment Paul.

Many landlords would associate Shelter with LHA tenants

I have to agree with Mark I dont think shelter would be the right agency but you have a good idea.

Yes I was just thinking out loud.
What are landlords thoughts as to an appropriate organisation that would be recognized for probity by ALL parties in the BTL industry and would facilitate landlord registration etc.
I think the Sally army are a trusted organisation but I am not sure whether they would be deemed an ideal BTL industry associate.
Perhaps some sort of central scheme comprising various accredited members such as ARLA, local councils, NLA, RLA, even Property118.com!, other landlord associations etc.
So you would register with your relevant accredited organisation which would forward the landlord details to a central database which could be accessed by tenants.
I appreciate that potentially there are logistical isues, costs etc.
Perhaps a small fee payable by the landlord to register.
Possibly also to attempt to obtain testimonials from honest organisations.
Maybe even some sort of govt grant to set up the service.
Just brainstorming here and clearly there are more informed of you out there that would come up with better ideas.
But I am convinced the principle from a landlord marketing perspective is a sound one.
How it might be delivered is clearly a rather large imponderable!

What about the possibility of accredited organisations like NLA, RLA, Property118.com,
local councils, etc taking landlord registrations and then forwarding the details to a tenant accessible database.
Appreciatr the logistics involved but a small fee payable by the LL ; cheap marketing would give tenants the opportunity to source good landlords.
I'm sure if we sat around and brainstormed this one we might come up with some good posibilities.
My contibution to the situation is clearly just a little inclement weather!!!

As a joint landlord (with my brother) managing a small portfolio of properties in London and Leicester, what I often do is put down the deposit as an Adminstration Fee rather than a deposit. I make it clear to the the tenants that this is what I am doing and it would be refunded to them (and i always do of course).

I guess this is easier to achieve if you are managing your own portfolio and not via letting agents who inevitably would want to do it the 'proper' way.

I have a single property that has had a tennant in for the last 3 years, I did not bister the deposit, however it is still secure in an account. They have given me notice that they will be moving out the end on January. I have no reason to hink that they will withhold the last months rent or leave the property in unreasonable condition.

I was aware of the dps scheme, but honestly not aware of the consequences for not using it. Yes I know, ignorance is no defence. However, should I place the funds in a dps now?

David

Absolutely YES you should in my opinion. I admire your honesty too. There are literally thousands of people who rent out properties and have no clue what the laws are. They fail to get annual gas checks, fail to declare their rental income on their tax returns and don't know what they can claim to reduce their rental profits and capital gains etc.etc. etc. If you know anybody who rents out property then please tell them about this website. I also stronly recommend they join a landlords association becuase by law, they are landlords the first time they take a rental payment. Landlord accreditation courses which cost just £150 are also available via MLAS, NLA and LLAS and are vital to everybody in the business in my humble opinion.

Moin, if you own a Ford Focus and spray it red and attach a Ferrari badge it is still a Ford Focus so far as the law and the DVLA are concerned. The analogy I am making is that it doesn't matter that you call the payment you have received and promised to pay back an "Administration Fee", by law it is a deposit and should be protected as such.

I may have been a little hasty with my last post, I have just been reviewing documentation and I have a Certificate of Tenancy Registration with thedisputeservice.co.uk that was set up by the agent that managed the letting. Does this cover me?

David