Local letting specialists Darwoods are warning the public to take care when choosing a letting agent. Landlords can be left thousands of pounds out of pocket when agents close down, taking rent and tenant’s unprotected deposit with them. Some agents are not registered with any of the regulatory bodies and as such landlords are left with no avenue of recourse to get their money back.
Despite a raft of recent proposals to regulate the industry, lettings still remains unregulated, which means landlords and tenants continue to be at risk of being badly let down. Our advice is to only consider a letting agent that belongs to a regulatory body such as ARLA or RICS, and for extra peace of mind to choose a long-established, experienced specialist with a good local reputation so that you can be confident that you are getting trustworthy advice and information.