The Association of Residential Letting Agents has described the introduction of a code of conduct and official register for letting agents north of the border as “a watershed moment for the industry.”
Earlier this week we reported that the code, now in force, has to be met by anyone engaged in lettings in Scotland. It includes specific requirements around how clients’ money should be handled, and makes it compulsory for businesses to have Client Money Protection and professional indemnity insurance.
Now David Cox, ARLA’s chief executive, says this marks a new era in professionalisation of the industry in Scotland.
“Agents now have eight months to familiarise themselves with the code, and complete any training that needs to be done to fulfil the criteria. Once the deadline for applications has passed on September 30, it will be a criminal offence to carry out letting agency work in Scotland if you’re not on the register” Cox adds.
“This is a watershed moment for the industry. We have long campaigned for the regulation of letting agents both north and south of the border and are pleased the Scottish Government has picked up the mantle and introduced minimum standards” says Cox.
“The requirements, mirroring ARLA Propertymark’s membership criteria, will hopefully drive up standards in the industry, improve the quality of property management for tenants, and eliminate those rogue and criminal agents who bring the industry into disrepute.”