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New letting agent regulations receive positive response

New letting agent regulations receive positive response

Amendments to the Enterprise Bill that will include the statutory regulation of letting agents have been welcomed by leading rental industry figures.

The changes, which have been approved by the House of Lords, will give tenants more power to redress in the event of poor practice and aim to raise standards throughout the private rental sector.

Peter Bolton King, residential director at RICS, said: "RICS has long called for the regulation of the lettings industry, given that ultimately, this is about the provision of shelter, a basic human requirement. This decision is one step nearer to this vital change becoming law."

Christopher Hamer, the Property Ombudsman, also welcomed the news. He claimed the legislation could see 40 per cent of letting agents not registered with the property ombudsman or affiliated to a professional body brought within a framework of standards.

The amendments to the Enterprise Bill now require final approval from the House of Commons before becoming law. 

 

Martin & Co St Albans are a licenced ARLA member and are ralso members of The Property Ombudsman.