Trade body wants much stricter regulation on letting agents

Trade body wants much stricter regulation on letting agents


Todays other news
RICS has been embroiled in controversies in recent years....
Many agents remain uncertain about where they stand...
The companies are Street Group and Goodlord...
Rent rises put down to ‘station surge’...
Reposit will now be offered to residents at 12 Build...


The Chartered Institute of Housing wants the government to introduce a raft of new measures including significantly greater regulation of letting agents.

The CIH has voiced its broad support for many of the recent measures outlined in the government White Paper which, in the eyes of some in the private rental sector, have imposed already-challenging requirements on lettings agents, landlords and investors.

Now, in its submission to the Treasury ahead of next month’s Budget, the CIH wants the development of a single, easily-understood set of minimum standards covering both property conditions and property management in the rental sector.

It also calls for the increased funding of councils to ensure they can proactively enforce existing and future standards imposed on the private rental sector – this is especially important given recent landlord requirements such as licensing schemes, says the CIH.

However, the institute reserves its most significant request for letting agents – it wants the government to introduce far more significant regulation.

It says in its submission to Chancellor Phillip Hammond that a 2010 survey by the Department of Communities and Local Government showed that 79 per cent of landlords received less than a quarter of their income from rent – evidence, the trade body says, that being a landlord “is a side-line activity for most.”

Therefore, it says, greater reliance is put on letting agents. However, without specifying the precise problems it hints at, the CIH’s submission goes on to say: “There is widespread agreement, including among organisations representing agents themselves, that regulation is needed to stamp out poor and exploitative practices. This could most easily by implemented by extending the arrangements already in place to regulate estate agents, to the lettings industry.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
5 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Recommended for you
Related Articles
RICS has been embroiled in controversies in recent years....
Angela Rayner could lose responsibility for housing in a reshuffle...
The warning comes from the chief executive of Grainger...
Items are wearing out 30% faster than before the pandemic,...
It now progresses to the so-called Report Stage....
The BoE has come to a decision on interest rates...
The House of Lords committee stage now continues until May...
Recommended for you
Latest Features
RICS has been embroiled in controversies in recent years....
Many agents remain uncertain about where they stand...
The companies are Street Group and Goodlord...
Sponsored Content
With less than a month to go until the UK...
The UK government has implemented 16 financial sanctions rule changes...
The owners of the Rentman software application (for property Lettings...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here