Landlord accreditation schemes – what’s the story?

August 17, 2012

Landlords Insurance

One of the longest running sagas within the letting industry is that of accreditation.

As almost any experienced landlord will know, society has been struggling for some time to get to grips with just how to regulate and police this important sector of the UK housing market.  There have been innumerable discussions on this subject but ultimately there remains no single unified national solution but rather various schemes operated by institutions such as local authorities, universities and some charitable institutions.

The basic objective behind any form of accreditation is the intention to try and lift up the average level of landlord competency and good business practice.  Linked to that is the subsidiary objective of trying to also increase the average standard of let properties and their associated safety.

So, as a landlord, you may wish to investigate with various local bodies what sort of accreditation schemes are in operation within your area.

In order to meet the standards, you may need to supply information about all your let property holdings, wherever they are, plus certain details about your own business background.  Essentially, the agency concerned will make various checks to see how you have conducted your business in the past and how you are currently doing so.  That may involve visits to some of your properties.

What’s in it for you?

There are a number of potential benefits which are outlined on the government’s website page relating to accreditation schemes*.

Clearly many landlords will be keen to become accredited simply as a mark of professional prestige and in order to distance themselves from those landlords who still conduct themselves in a less than exemplary fashion.

Yet there may be more benefit in this than simply professional pride.

Some providers of landlord insurance policies may offer preferential rates on a let property insurance quote for landlords who are able to show accreditation with a recognized body.

You might also find that you attract slightly more discriminating tenants who are looking for accredited landlords.  That in turn may yield you benefit, as tenants in those categories might be willing to pay slightly higher rental rates for properties where the landlord is clearly seen to have met certain standards of professional conduct and to be offering a property that meets similar standards for safety and maintenance etc.

Although there may be some local exceptions, at the moment there is no requirement to be formally registered or certified as a landlord.  Whilst this remains an essentially voluntary system, something which landlords typically wish to retain, voluntary accreditation might be something that you should look into.




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