The Housing Minister, Grant Shapps has just announced that the Government has no plans to regulate letting agents or proceed with a landlords register, both policies were recommended in the Rugg Review 18 months ago under the Labour party.
This review was commissioned to look into the sector and how best to raise standards, and most importantly protect landlords and tenants. It was advised that regulation is the best way forward.
It seems uncanny that this has been discarded as more and more people are having to turn to the private rented sector for a home. It is now more imperative than ever that landlords and tenants use accredited agents whom are members of such schemes (NALS, RICS or ARLA) to ensure that their money is safe and that an insurance policy is in place to safeguard their money.
On a more encouraging note the local lettings market remains remarkably strong this year and we are looking forward to the busy summer period.
Luke Mason, Director, Belvoir the lettings specialist