Facts about NLA, NASARB and NLA RentBack

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by Lin Freestone

The National Landlords’ Association (NLA) has issued some information concerning its relationship with the National Association of Sale and Rent Back (NASARB) as it seems as there is some confusion about the way the two organisations operate.

NASARB was created in October 2007 by The Money Centre, which coordinated several key stakeholders in the sector to create the NASARB committee. It began to investigate the framework for the development of a Code of Practice for sale and rent back businesses.

As part of its investigation, it approached the NLA, which had 35 years of experience in the private-rented sector, to lead on the issue.

Soon after the NLA started consulting across the sector, which included the Office of Fair Trading, it became clear there would be conflicts of interest if NASARB, with its commercial backers, sought to push forward with a Code of Practice which purported to be independent of any one sale and rent back provider, or group of franchisees.

For this reason, NASARB, as a brand, no longer exists. Instead the work of NASARB is now fully under the banner of the NLA and has been re-branded NLA RentBack. The Code of Practice has now been published and the NLA is asking interested parties to submit their views by 31 August 2008.

The key stakeholders who developed NASARB, including The Money Centre, now form a business advisory group to the NLA on sale and rent back.

Media enquiries for the NLA, NLA RentBack and the Code of Practice should be directed to Steven Hilton. Enquiries for The Money Centre and commercial issues should be directed to Lynsey Sweales.