BACKING FOR GOVERNMENT PROPERTY SECTOR REVIEW

Professional standards can be a thorny issue amongst certain ‘rogue operators’ in the lettings industry which is why we at Benham and Reeves Lettings have welcomed the recent publication of the final report of the Government Review of Regulation and Redress in the UK Housing Market. The report assesses the scale and scope of regulation in the housing market (covering both estate agents and lettings agents), how effective it is for consumers and what can be done to improve the effectiveness and efficiency of regulation and redress across the property sector.

This can only be good news for the industry as Marc von Grundherr explains: “We’re delighted that the Government is taking steps to improve professional standards throughout the industry. We completely support a move for the Consumers, Estate Agents and Redress Act 2007 to be extended to lettings agents; tougher legislation would provide greater protection for both landlords and tenants, giving them access to independent redress if there is a problem which should in turn boost consumer confidence.”

“Of course, as a founder member of ARLA (the only UK body devoted to the self-regulation of letting agents), we have built our professional reputation on our commitment to professionalism and customer service,” continues Marc.

“For nearly 25 years, ARLA has been actively promoting the highest standards from its members across every aspect of residential lettings and management in the private rented sector. As such, we work within a strict Code of Practice, which covers the key stages of letting and managing a property. There are comprehensive membership bye-laws which include compliance with issues such as handling and accounting for clients’ money, the mandatory ARLA Client Money Protection Bonding Scheme, professional indemnity insurance and dealing with complaints and disciplinary procedures. Ensuring this level of service means that our clients are confident their investment is in safe hands.”