New Regulations for Letting Agents

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( — April 18, 2013) London, UK — This will be the first time in history that letting agents will have been subject to any level of scrutiny or authority presiding above them.  Tenants and landlords alike will now have a direct channel of readdress and a regulatory body in place to protect the needs and requirements of the client.

Minister for Housing, Mark Prisk stated, “We think the key issue for most people is the ability to get redress when they’ve got a problem.   I think the addition regulatory burdens we feel would be disproportionate.”

Nicholas Ashworth from letting agent Ash Parker says, “The industry has never been short of choice of accreditation schemes to subscribe to however, there has never been an obligation, only a suggestion that joining an accredited organisation will give the agent credibility.  This is a fantastic development for the industry as rogue agents will be forced to cease trading. The big next step will be to regulate the landlords, this measure has not yet been taken but is another step that is most certainly needed.”

There are now further plans set for a public and private consultation with the main aim of having the scheme in place by Autumn 2013.