06 Oct 2021

'Gold standard' support for landlords aimed at helping improve rental standards across UK

  • Nationwide launches The Landlord Works – a new platform offering support for all UK landlords
  • Free online resource addresses the needs of landlords to help them manage properties and finances
  • Introduction of The Landlord Works aims to further improve health of the private rented sector
  • Aimed at fostering better landlords everywhere as 23% of private tenants live in ‘non-decent’ homes1
  • Complements The Mortgage Works, which continues to offer competitive buy-to-let mortgages

A free service has been launched to help landlords manage their properties in one place and navigate them through the complex rules and regulations in the sector.

The launch of The Landlord Works, which has been developed by Nationwide Building Society over the last two years with the support of landlords, aims to help improve rental standards across the UK through education and support. According to the English Private Landlords Survey, published in 2019, nearly two thirds (63%) of landlords believe the industry had changed for the worse, predominantly due to the increase in regulation, legislation and tax.

The Landlord Works marks the first time a major financial services provider has launched a comprehensive resource to support landlords. It provides free support to all landlords to help them manage and keep track of their properties and finances, regardless of size and who they have their mortgage with, to help them understand their legal obligations towards their tenants. The launch comes at a time when around one in five homes are rented privately2, equating to 11 million people3.

A full suite of tools and services are available – from educational resources and guides about rights and responsibilities, to tools relating to managing portfolios, time and income. The Landlord Works also offers discounted access to an award-winning self-assessment tax solution.

The service, which the Society hopes in time will grow to become the leading place of support for UK landlords, will complement Nationwide’s buy-to-let mortgage lender, The Mortgage Works, which continues to offer competitive products and propositions to all landlords.

Key features of The Landlord Works include:

  • Resources and Education: There will be a range of resources and educational guides to help landlords on a range of topics including legal obligations, property marketing and management, finances and mortgages as well as tenant support. There will also be free downloadable content, including a checklist for starting a new tenancy and an A-Z guide providing tips and insights for those just starting out. Landlords will also be able to sign up to a monthly email newsletter providing details of the latest industry news and updates.
  • Portfolio Management: Designed to help landlords manage their properties and effectively manage their finances. Using pioneering open banking technology, this tool will also help landlords manage important documents, such as gas safety certificates, electrical inspections and energy performance certificates.
  • Landlord Self-Assessment Tax Return: A 20 per cent discount will be offered to landlords when submitting their annual self-assessment tax return via GoSimpleTax – an award-winning tax software tool. Landlords will be able to use the tool to track expenses and income and get access to information they need regarding their tax obligations and options.
  • Rental, Sales and Property Comparison Valuation Tool: Landlords will be able to estimate how much their property is worth and potential levels of income. It uses real-time Land Registry and property listing data to provide estimated value for rental and non-rental properties based on those recently sold in the area.
  • Property Portfolio: Landlords will be able to upload details of all the properties in their portfolio and add any new properties. This means they will be able to track rental finances and any key dates associated with each of their properties. The portal also has a notification tool to help landlords remember these dates.
  • Finances: To assist landlords in managing their finances effectively, they will also be able to use The Landlord Works to connect multiple bank accounts to their profile. Landlords will need to reauthorise access every 90 days to continue using this functionality with reminders given in advance. They will be able to stop using it at any time.

The Landlord Works forms part of Nationwide’s ongoing focus on the Future of Home as it campaigns for a private rented sector that works for the mutual good of all by working collaboratively with a broad range of organisations to address the UK housing crisis.

Sara Bennison, Nationwide’s Chief Product and Marketing Officer, said: “The private rented sector is in dire need of reform, but to get there, landlords need to be given every ounce of support. Today, being a landlord is more complex than ever, and we want to make managing property more straightforward for both landlords and tenants, by giving support where it is needed.

“We hope the launch of The Landlord Works gives landlords the opportunity and ability to manage their finances and properties in one place and understand their commitments to their tenants. We hope over time that The Landlord Works becomes the go to place for UK landlords for help, support and guidance.

“As a mutual we are committed to improving the housing system and the private rented sector is a major part of that, particularly today. It is why we are working with a range of other organisations on the Future of Home and how we can collectively address some of the issues and make a positive difference.”

Notes to editors

1 Nationwide’s Future of Home Report (p34): Future Of Home (nationwidemediacentre.co.uk)

2 Nationwide’s Future of Home Report (p18): Future Of Home (nationwidemediacentre.co.uk)

3 Nationwide’s Future of Home Report (p35): Future Of Home (nationwidemediacentre.co.uk)