Landlord Register Scrapped and No More Regulation Of Letting Agents
News has just come in that the national landlords register proposed by the last government has been scrapped for England and Wales.
I thought the register might not be a bad idea if it was set up right, unlike the pre-existing Scottish scheme. See my comments on how the scheme north of the border seemed to be a pretty hopeless, costly and pointless exercise by clicking on the categories below this post.
However, I disagree with the coalition government’s move to junk the plan to regulate letting agencies.
More regulation of letting agencies is needed, especially in relation to making sure tenants deposits are always duly protected in tenancy deposit schemes (and not used as working capital) and ensuring all letting agents provide an acceptable standard of service to both tenants and landlords.
Too many landlords have been caught out when they have become liable to repay tenants deposits because a rogue letting agent did not protect the tenants deposit in a scheme and then went bust, leaving the landlord liable for the tenant’s money.
The government’s move to keep things as they are with respect to the lack of regulation of letting agents is a mistake and the wrong policy in my opinion.
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