Updating post from Reddit.
First time landlord here, we've sorted out consent-to-let and are renting out our home for a few years for travel, uni and health reasons. Is it worth signing up to the NRLA? I've read very mixed reviews. I want to make sure I do everything well and legally, but I'm doing everything through OpenRent so maybe thats covered anyway. What do you think about NRLA and their fundamentals course? Thanks in advance
I did the NRLA landlord fundamentals course and found it very useful to understand my legal responsibilities
I am a long time member and realised how valuable it was from the moment I needed help with bad tenants and found my insurance didnt cover legals due to small print. So yes was worth it, the courses however will be out of date soon due to rent reform but nrla no doubt will update them for that.
That’s a lesson to read small print. Not to spend more money.
Is there any other benefit ?
Quarterly magazines are a good read to see the state of the rental market. It also has lots of guidance documents , a forum but that is kind of dated and rubbish in my opinion. Also you can get discounts for some services. I heard the tenant screening service is far better than openrent too but this is an extra fee for that service. Oh and the tax is deductible for membership.
Sounds like it could be worth it.
Now you’ve been landlord in for a while, would you say it’s still worth it?
Also, don’t suppose you know what detail they go into for referencing?
Do they actually reference with employers and prev landlords or do they just use open banking and call the a reference, like right move do.
For a number of years I wasn't a member. Then I had a problem tenant, signed up with the NRLA and their helpline was extremely good and informative.
The NRLA subscription is tax deductible and you can always cancel. Use code QAJ-812 for a discount,
As a member of the SWLA, it's £50 a year and absolutely invaluable. The training is good but the real advantages come when you start having tenant trouble.
It depends how clued up on this stuff you get but they can also help with things like legal issues and contractual disputes. If you’re using an agent then no point as that’s what you’re paying them for. But if you’re on your own and want to take your responsibilities seriously then go for it
Agents don’t know a great deal about being landlord.
I think so. We used their forms etc. And their helpline is useful and you get through quickly.
Sometimes you need to know where you stand and they will tell you. Then you know the technically correct answer, before you proceed to ignore it.
There's big changes happening next year, so will be reading their stuff about all the rules.
Do you know about the gas safety, eicr and EPC requirements, or what a section 21 is/ needs for example? If not then a course be good
And if you do? Is it worth it?
Yes. Even for the contract ls alone. Soon you will discover that you know way more than the average agent and will become a decent landlord.