Labour should champion lettings agent regulation

Propertymark has urged Labour to licence letting agents under its plans to ‘fundamentally reform the private rented sector’.

The trade body also wants regulation to extend m to sales and managing agents.

With housing becoming a central priority ahead of an upcoming general election, Propertymark has issued a fresh plea for Labour to engage with the sector and understand the concerns from property agents, which include:

- Regulating property agents through qualifications, a statutory code of practice, pass a fit and proper person test and membership of a professional body;

- Ensuring any new energy efficiency targets for housing are realistic, they avoid a one size fits all approach and be complimented with grants, loans, and funding to incentivise landlords and homeowners to act;

- Improving the home buying and selling process by supporting agents and the sectors work on enhancing upfront information;

-Ensuring that reforms to the private rented sector secure more investment in the courts system, retain fixed term tenancies where all parties want them, avoid rent controls and review all taxes impacting private landlords to incentivise investment and much needed supply of private rented homes.  

Nathan Emerson, chief executive at Propertymark, says: “Labour has an opportunity to lead on agent regulation and drive-up standards for consumers.

“The current government at Westminster has said that all property managers in the social rented sector should be qualified, so we urge Labour to join our calls and extend these requirements to letting agents, estate agents and managing agents – this will ensure a higher level of consumer protection wherever consumers rent or buy a home, improve the everyday economy and empower communities up and down the country.”