You are here: Home - News -

ARLA suggests buy-to-let training for landlords

by:
  • 04/12/2001
  • 0
Landlords entering the buy-to-let market for the first time should be trained, in order to attain a ...

Landlords entering the buy-to-let market for the first time should be trained, in order to attain a level of professionalism according to the Association of Residential Letting Agents (ARLA).

ARLA, which has called for an alliance between the private rented sector, regulated social landlords, housing agencies and the Government wants to provide a single body within the letting industry.

Malcolm Harrison, spokes-person at ARLA, said: ‘If you’re new to the market and are entering a buy-to-let scheme, you need to be trained by a letting agent. You have got to learn the job and a new buy-to-let investor is much safer working through a regulated letting agent.’

John Heron, managing director at Paragon, agreed: ‘Individuals becoming landlords for the first time are possibly unaware of the full complexity of the business they are engaging in.

‘Owning a residential property and letting it is presented as an investment opportunity which can be a danger for new people entering the market. Investors must be aware of the full complexity and seeking a greater knowledge makes sense.’

ARLA also said that more needs to be done to ensure that tenants only rent through fully bonded and qualified agents, highlighting a need for more knowledgeable landlords.

By forming an affiliation between industry members, ARLA believes the letting market would become standardised.

ARLA has also called for a review of the rules on benefit fraud and of the proposed regulation of ‘houses in multiple occupation’ which ARLA believes could force landlords out of the market.

John Crossley, chairman at ARLA, said: ‘In Scotland, legislation is in place to trap all accommodation occupied by more than two unrelated tenants. This will include ordinary small flats and houses where rigorous hotel type standards will be imposed and expensive licences and planning consents will also be required.’

‘We do not want to see in England and Wales the potential destruction of the rental market for sharers.’


Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
My client is about to move abroad and wishes to rent their house out. Do any lenders lend to people in this situation?

Obtaining a mortgage for a property to be let is no longer difficult as most lenders have suitable p...

Close