Financial Services Firms set up Landlord Support Body

A body called the Landlord Leaders Community is pledging “to drive positive change for a sustainable and thriving private rented sector.”

Set up by finance firm OSB Group, the body has 13 founding members. One is from Propertymark, one is a lettings agent, one a landlord and the rest from financial services.

The body has created a mission statement which falls into what it calls its four ‘areas of focus’. 

Education and Training:

·         Establish comprehensive educational programmes and guides for landlords to increase awareness of their rights, responsibilities, and best practices in the industry, especially around sustainability;

·         Collaborate with industry associations, government bodies, and educational institutions to develop and deliver training courses and workshops tailored to the needs of stakeholders;

·         Encourage ongoing professional development within the industry to ensure that professionals remain updated with the latest trends, regulations, and best practices;

·         Signpost resources for stakeholders to use for best practice and guidance; and

·         Encourage disparate sections of the industry to increase cross-education and better understanding of their roles within the sector, and externally to the public and media.

Communcation: 

·         Encourage clearer communication between tenants and landlords;

·         Promote the use of digital platforms and applications to facilitate efficient communication, such as dedicated online portals or mobile apps;

·         Work towards the implementation of a standardised communication system between landlords, tenants, and relevant stakeholders to ensure clear and timely exchange of information; and

·         Communicate the economic benefits of a thriving private rented sector to the public.

Collaboration:

·         Encourage collaborative efforts between landlords, tenants, and other stakeholders for a more seamless rental experience and to foster a sense of understanding, responsibility and community spirit within the sector; and

·         Facilitate the establishment of landlord forums to enable open dialogue and co-operation in addressing common concerns.

Positive Industry Perception:

·         Promote a more positive view of the private rental industry by highlighting success stories, best practices, and positive contributions made by landlords and tenants; and

·         Engage with media outlets and community organisations to counter negative stereotypes and misconceptions.

A statement from the organisation says: “Despite ongoing challenges, the Landlord Leaders Community believes that the future of the private rented sector remains bright. But more needs to be done to unite a fragmented industry, to encourage collaboration and better communication, putting tenants at the heart of everything the industry does. Buy-to-let is not just any business, it is one with huge social implications.”

It continues: “At its core, the community continues its aim to bring the industry together, promote professionalism, foster closer tenant/landlord relationships, encourage fairness and transparency and to spread a positive message about the future of the private rented sector in the UK.” 

The statement also carries a testimonial from Suzanne Smith, described as an “independent landlord and a founding member of the Landlord Leaders Community.” She is quoted as saying: “You succeed as a business if you have the interest of your customers at the heart of your business.”

Jon Hall - OSB Group’s managing director for mortgages and savings - says: “The Landlord Leaders community stands at the forefront of a transformative journey within the private sector, and as a founding member, we’re delighted to deliver this mission statement outlining our ongoing commitment to continue to develop a positive change within the private rented sector for all stakeholders.

“The prevailing sentiment from the discussion was that the but-to-let sector is not dead, in fact, far from it. There are opportunities for us to make more of, and the current shifts in the market will allow those who are truly passionate about positive change to thrive. A sustainable future for the industry is not possible without collaboration and education for everyone, no matter what role they play.

“As part of the Landlord Leaders Community, OSB Group are committed to continue our strong support for the creation of a positive future for the private rented sector.”

The group has a substantial website including a report which outlines the objectives of the group in more detail. You can see the website here. https://landlordleaders.osb.co.uk