New paper on regulation of letting agents published

A new research report on the regulation of letting agents has been published, and placed in the House of Commons library.

The report, by Wendy Wilson and Catherine Fairbairn, points out that there is no statutory regulator of private letting or managing agents in England, and no requirement for them to belong to a trade association.

The Westminster government has also said that it does not intend to introduce regulation on the grounds that it would involve too much red tape. The previous Labour government did, however, propose full mandatory regulation of letting and managing agents.

The report says that growth in the private rented sector means there is increasing attention being paid to lack of regulation in the private rented sector, and that it is the focus of a current CLG select committee.

The report is intended to provide factual, unbiased information to MPs. It covers no new ground but would be useful reading for anyone wanting to be brought up to speed on the debate over the regulation of the lettings industry.

http://www.parliament.uk/briefing-papers/SN06000

Article courtesy of LettingAgentToday

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