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I have just read another thread where the discussion is going off at a tangent about professional landlords compared with those that have a couple of properties in addition to their main job and thought worth asking the question - What is a professional landlord?
I think I would prefer the phrase a landlord acting professionally be it with one property or a hundred properties.
Complying with legislation.
Treating tenants with respect.
Treating tenants fairly.
Providing decent properties at a fair rent.
I like the description of "a landlord acting professionally".
I asked a similar question here:
A professional to me is a person who makes there liveing 100% from Property investment
we all start as a non professional and you decide at some point that you wish to make your job out of property
That’s not to say a part time landlord can’t have professional standards
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
"That’s not to say a part time landlord can’t have professional standards"Glad to hear that, DL. I have <10 properties, but consider it a job, "profession", in addition to my day job, as it supports my meagre salary from that day job. More than once an LA has described me as a good landlord.
The word professional is subjective.Many years ago, a snooker (of all things - very much an amateur snooker player I must add) friend became a lawyer, and I suffered years of academic snobbery "I'm a professional person. I've had an academic education and joined the elite ranks of the professionals, like surgeons".Yet he deemed teachers not to be professional because "professional people do not take militant industrial action, i.e. go on strike like manual workers".
Another pal, who was a school teacher, always referred to teaching as "the profession". Probably his SoH, just winding me up.
At the end of the day there are some 7.5bn people on the planet, and in my book the queen, the pope and Obama (or Trump) are just human beings who happen to exist on our planet.
Here endeth the lesson.
A professional landlord to me is someone who is routinely called professional by others
This is whether they have 1 property or 100
All business people will naturally claim they are professional when asked .
And many are, but of course many prove not to be
I think only LL`s peers and others in associated industries can really bestow that title on them
Jonathan Clarke. http://www.buytoletmk.com
so what’s the difference between a professional snooker player and a person who plays part time in the local every other night
We are mixing up grammatical stuff here me thinks .
Profession I suspect is the core word to work from
For me its about professional standards ( which you highlighted ) within a profession
A professional snooker player is one that earns their living from it
If they dont they are an amateurs / hobbyists
Either though could have professional or unprofessional standards
So a professional snooker player could be unprofessional
An amateur / hobby snooker player could be professional
They could also be a professional have professional standards but act unprofessionally at times
My head hurts now
I think you hit the nail on the head others look at a landlord and they say who is a professional I class you as a professional landlord
That is an interesting question DL as to make a snooker player professional, all they need to do is derive an income from it, hence it becomes their profession.
I have more than 10 properties, a management company and also a very time consuming day job. I would still consider myself a professional landlord amongst others things, similar to yourself DL as we have very similar pasts.
I think what makes anyone professional at anything is the desire and follow through to master a profession and do it within the rules constraints laid down as the right way to do it. Therefore anyone who operates properties within the rules and continues to maintain their knowledge on what those rules are from time to time should be able to consider themselves professional. Oh and deriving an income from it!
Landlord with 25 years’ experience in the property market and a specialist in tenant referencing, ID and credit screening. Creator of identity, credit and anti-money laundering system ValidID.co.uk
In light of that very last bit we might all be losing our professional status soon! haha
A professional landlord to me is the same as a professional in any other field.
To class anyone as a professional anything, my definition would be:
1/ Knows their stuff
2/ Can prove they know their stuff in practice not theory
3/ Good at what they do
4/ Can prove they are good at what they do - this to me means they don't self proclaim, they are recognised as good by others (testimonials etc.)
5/ I'd also look for academic qualifications for some professionals although not so relevant for landlords