Associations back RICS claim that national landlord register does not go far enough
Added 02.03.10
The Association of Residential Letting Agents (ARLA) and National Association of Estate Agents (NAEA) have united in their support of a recent RICS report into Transparency in Professional Fees and how they affect landlords in the Private Rental Sector (PRS).
Both organisations say they strongly support RICS calls for further regulation of letting and managing agents in the PRS and also back its proposal for the Property Standards Board to be an independent regulatory body.
ARLA and NAEA agree with RICS that the national landlord register doesn’t go far enough, and doesn’t offer enough consumer protection, and support the concept of industry regulation of landlords as part of a regulated property sector.
In response to the report Peter Bolton King, CEO of the NAEA and ARLA said: “The property sector has shown its willingness to offer more consumer protection and ensure that our practices are transparent and open to scrutiny.
“The RICS report is correct then in setting out an agenda to challenge the wider perception that property transactions are carried out under a cloak of secrecy.
“In the past year, ARLA has demonstrated this by launching its licensing scheme. The large numbers of letting agents who have signed up to this scheme and now abide by its strictures demonstrate, very clearly, this determination to offer consumer assurance.
“We expect all NAEA & ARLA members to abide by a Code of Practice, which binds them to ensure that all fees and charges are made clear. In addition, we expect the Government's proposals for the regulation of lettings and management agents to further augment our work in this area.
“In the near future, we will launch a similar scheme for NAEA estate agents. Our members already follow the strict guidelines we have set out in regards to clear communication with consumers, but the formality of the scheme will offer house buyers and sellers even greater assurance.”
News feed courtesy of Residential Landlord