A senior figure at a deposit replacement service says the current flurry of changes in the private rental sector are positive.
Daniel Jeczmien, founder and chief operating officer at flatfair, says he welcomes the increased professionalism injected into the sector by new rules on Right To Rent, anti-money laundering, local council landlord licensing and even the introduction of digital innovation such as Blockchain.
“We don’t believe that the property industry is facing an identity crisis. We’re in the midst of positive reform where more regulations are being implemented to ensure that there’s a level of professionalism and fairness among landlords” says Jeczmien.
“Those that genuinely have the tenants’ best interest at heart will thrive while individuals that sit on the other end of the spectrum will face difficulties and will either, potentially, improve their standpoint or exit the market” he warns.
“This is a good thing for tenants and landlords alike as the reputation of the lettings market will improve, giving tenants more security as a result."
There are some who believe the property industry is having an identity crisis because everyone is increasingly being asked to know who their customers are whether it’s renters, landlords, buyers or vendors.