Scotland’s largest professional organisation for letting agents is urging all those in the rental sector to ensure they are fully compliant with new regulations coming into force in 2018.
The warning, from the Council of Letting Agents, came as the details of the regulations were finalised. The new rules, including a statutory code of conduct and training requirement will be mandatory for letting agents and relevant staff in the sector by January 2018.
In addition to signing up to a Letting Agency Code of Practice, letting agents will be required to be listed on a public register, whilst key individuals will also be required to meet a new, tough, minimum level of training.
Landlord Accreditation Scotland and the Chartered Institute of Housing Scotland have developed a new professional development programme; the CLA is urging everyone in the sector to ensure they comply with the new rules and undertake the proper training.
The council says that whilst some involved in the sector have signed up to the necessary training already, many seem to be unaware of the impending deadlines or the impact the changes will have on their business.
CLA policy group chair Amanda Wiewiorka says: “We have seen a steady increase in awareness amongst letting agents but there is still more to be done to ensure everyone who needs to be is compliant by the deadline. As well as agents, lawyers who undertake letting work will also be required to be on the register and, in some cases, complete additional training and qualification.”
A registration guide is now available from the Scottish Government to help letting agents understand what letting agent regulation will mean for their business. It can be found here.