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Cambridge Letting Agent Welcomes MP's Decision to Regulate Letting Agents

Cambridge Letting Agent Welcomes MP's Decision to Regulate Letting Agents

18th April 2013, Cambridge, UK - MPs have this week approved steps designed to protect tenants and landlords from rogue letting agents, by forcing all letting agents to sign up to a redress scheme.

The team at Martin & Co letting agents in Cambridge, an ARLA-regulated lettings and property management agency, and a voluntary member of The Property Ombudsman redress scheme, welcomed the news.

Cambridge Letting Agent Welcomes the Move..

Letting agency director, Nick Diggle, said: "It's about time all letting agents, whether new or old, big or small, provided better safeguards to consumers in the form of an appropriate redress scheme. Landlords and Tenants deserve to be confident that - in the event they feel they've been unfairly treated, or have not received the service they have paid for - there are clear steps they can take to have things put right.. We see this move by the government as a step in the right direction towards better protection for all landlords and tenants across the country".

The Property Ombudsman service is the largest redress scheme of its kind operating in the UK, and is designed to both regulate the practices of letting agents, as well as offer a solution to unresolved disputes in the event that landlords or tenants feel they have been subjected to unfair practices, poor service or other unscrupulous behaviour.

So, why is using a TPO (The Property Ombudsman) registered letting agent (like Martin & Co Cambridge) so important?

Letting agents registered with the TPO must adhere to a strict code of conduct governing how they operate - which includes standards of service they must provide for both landlords and tenants, best practice procedures with regards to areas including 'impartiality' and 'access' for consumers, the provision of clear and unambiguous written 'terms of business', and a commitment to demonstrate a 'duty of care' to both tenants and landlords.

Agents must also adhere to strict money handling obligations, including the registration of tenants' deposits in-accordance with recent deposit protection legislation. Members must also hold full professional indemnity insurance in place at all times, while also having in place a written in-house complaints procedure.

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About Martin & Co Letting Agents in Cambridge

The Cambridge branch of Martin & Co is a licensed member of the Association of Residential Letting Agents (ARLA) and the National Approved Letting Scheme (NALS) - a government-backed organisation set up to maintain proper standards of professionalism, best practice and compliance in the UK lettings industry. With a proactive team, and staff qualified in Residential Lettings and Property Management with the National Federation of Property Professionals (NFoPP), the Cambridge office is also registered with The Property Ombudsman and uses the government-appointed Deposit Protection Service (DPS) for all tenant deposits.

For best practice the Martin & Co Cambridge office is a member of the SafeAgent scheme, it has its accounts externally audited every 6 months and holds all client monies in a ring-fenced client account, with full client money protection in place at all times. Martin & Co UK Ltd holds Investor in People status, and runs a year-long internal training academy, with both internal and external consultants and trainers from ARLA and the NAEA.