Compulsory licensing of Lettings Agents to protect Landlords and Tenants

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Compulsory licensing of Lettings Agents to protect Landlords and Tenants

Additional Information

Over 4 million UK homes are provided by the Private Rented sector.

Both landlords and tenants lose out when Lettings Agents go out of business having failed to:-

Protect tenants deposits
Pass on rents collected to landlords
Provide adequate advice to their landlord clients in respect of their statutory obligations

A simple licensing scheme, administered by Councils could solve most problems.

In order to practice it is proposed that Letting Agents would need to produce the following documentation in order to be licensed:-

Evidence of recognised client account bonding
A valid certificate of Professional Indemnity Insurance
Data Protection Licence
Membership of an appropriate Ombudsman redress scheme

Please sign this petition if you agree with these proposals.

If you would like to read more about this or engage in discussion please click here.

http://www.property118.com/index.php/an-easy-way-to-regulate-the-lettings-industry/23928/

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