Property Log Books Move a Step Closer
Yesterday the Residential Logbook Association (RLBA) held its inaugural stakeholders meeting supported by the Ministry of Housing Communities and Local Government (Matt Prior). The Association has been set up by four founding members, originally a subcommittee of the Home Buying and Selling Group (HBSG). The founders are Nigel Walley, chairman, Tim Main, Simon Lumb and David Graydon.
The initial aim of the RLBA is to define a logbook, set a data standard and establish an industry register. Just defining a logbook is more complex than it sounds but assisted by leading industry stakeholders good progress is being made. Each logbook will have a core data set that will identify it. The register, open to the industry and consumers alike, will detail if a logbook exists and who the supplier is. It will very much be one logbook per property per property interest. This allows for freehold and multiple leasehold interests as well as owner occupiers and different ownership structures such as joint ownership‘s and commonhold.
The simple core data helps meet another objective to the RLBA, this is still ensure that the logbooks are transferable between suppliers as well as between different owners on sale. With a huge range of various competitive service propositions such as and front sale packs, letting MOT, handover packs, utilities, document storage, local authority services, retrofit plans, house history et cetera the logbook aims to link these records to make the information accessible to the consumers.
Association stakeholders are wide and varied but include the NAEA, Law Society, Conveyancing Association, HMLR, RICS, CLC and NTS to name some. The RLBA aims to be inclusive and wants the property industry to be fully represented in the development of the residential logbooks, any organisation who feels they might like to be a stakeholder is invited to contact Tim Main [email protected] in the first instance.
Any logbook supplies or organisations interested in that area who are thinking of joining the RLBA should again contact Tim Main in the first instance.
What is the RLBA
The Residential Logbook Association (RLBA) is a trade association for companies working to create a consistent and regulated basis for residential logbooks to be integrated into the different aspects of the property industry.
The RLBA champions the potential role of residential logbooks in the fast changing landscape for residential property data.
We looking at the implication of logbooks on data standards, and security as well as preparing for their integration with the new software and data systems being built by other parts of the industry.
The RLBA remit includes recommending a process of regulation for providers of logbooks. The RLBA is currently consulting with stakeholders across the property industry to understand their interests and concerns about logbooks and the self-regulatory process. Our objective is for all residential property transactions to eventually be supported by a regulated residential logbook.
Member Companies In The Residential Logbook Association
- Chimni – www.chimni.com
- Property Information Products – www.piphome.co.uk
- Spaciable – www.spaciable.com
- National Deeds Depository – www.thedeedsdepository.com/