Benefits of being a member of a Landlord Association
As a landlord, you’re constantly faced with the pressure of keeping your costs down. So when faced with joining a landlord association and paying a regular membership fee, you’re right to question whether it’s worth the cost.
In this guide, we’ll give you a quick overview of what different landlord associations there are, what they do, and why you might want to join one.
What do landlord associations do?
Their main purpose is to represent the views and interests of their members (and by extension, landlords in general) on a local and national stage. As a large representative body, they can powerfully voice concerns over decisions that affect landlord. Be those small decisions made by local councils, or large nationwide decisions made by the government.
How much does it cost to join an association?
Memberships differ between associations vary markedly. Some landlord associations charge a flat monthly. Others a yearly fee based on a scale of number of properties you own or manage. Landlord association fees are considered a business expense and are therefore tax deductible. You will need to contact your local landlord association. Membership comes with a variety of benefits.
What are the member benefits?
Being part of such a large network means you can learn from the experiences – both good and bad – of other landlords. It also helps you stay up-to-date with any new relevant legislation that is lurking over the horizon. All of which can only make your life easier. Soaking up all of this knowledge is easy for members as all of the associations have online forums and regularly host ‘real life’ events and seminars. These events provide a great opportunity to mingle and network with peers and industry experts.
The members’ areas often have online, downloadable templates, forms, and guides to help make your life easier. These give you access to leases, addendums, notices of inspections, eviction notices, and other formal letters to increase rent increase.
More valuable still are the helplines the associations run. These can be invaluable when you’re in a tough spot and in need of an answer to a specific legal question. A quick call to these helplines can often save you hundreds of pounds in solicitors’ fees.
Landlord associations often have mentoring programs to share knowledge and to assist with problems. Experienced landlords are often available to look more closely at particular problems or opportunities.
Landlord associations provide representation to government through their own connections or link up with other industry sectors (real estate, property manager, mortgage brokers, insurance brokers, bank) to address new legislation or matters of interest to landlord members.
Member discounts and privileges
Members also get great discounts on a range of useful products, including insurance policies, training courses, and trade magazine subscriptions. If your property is an HMO, you may find you can get discounts on the HMO fees you’d have to pay to your local authority too.
Landlord Education, Training and Accreditation programs
Accreditation is the certification that a product or service has been independently evaluated and meets a certain standard. Accreditation of landlords has been fairly common practice for 15 or so years. As such, an accredited landlord may be seen as a more trustworthy option for a potential tenant.
Some local councils run their own accreditation schemes, but all three national associations also run their own independent accreditation schemes. As a member, you’ll have the ability to become accredited through your association – usually by completing a course.
Landlord Associations in your area:
Click here for Landlord Associations in the US: https://www.thelpa.com/lpa/associations.html
Also check with property managers in your area to refer you to local property managers.
Click here for other landlord websites and articles.
- Residential Landlords Association (RLA)
- National Landlords Association (NLA)
- Guild of Residential Landlords (GRL)