It’s time for letting agent regulation to start say industry giants

Property groups have urged the government to bring in long overdue regulations for residential letting agents

In a letter to Housing Secretary Angela Rayner, Propertymark, The British Property Federation, Royal Institute of Chartered Surveyors, Federation of Private Residents Association and The Property Institute say standards must be set to for those working in the sector.

They want a new code of practice as well as mandatory qualifications and competence standards.

It is now five years since the Regulation of Property Agents (RoPA) published its recommendations after being tasked to advise the government on a new regulatory framework to help raise professional standards in the industry.

Eighteen months ago, the previous government confirmed it was still deliberating whether to bring in property agency qualifications and minimum standards in the sector. In May, the chair of the Industry and Regulators Committee in the House of Lords, Baroness Taylor of Bolton, wrote to the DLUHC expressing disappointment at its response to the Lords’ committee inquiry findings into the need for regulation.

Framework

The property groups’ letter says RoPA’s report provides a considered framework ready to be translated into legislation. “Professional bodies have long called for and we stand ready to deliver effective regulation in the sector,” it tells Rayner.

“We would therefore welcome an early roundtable meeting with you to discuss the new government’s proposals, and your willingness to legislate which would have wide support – including from the Opposition which, in government, declared it had only failed to act due to the lack of parliamentary time.”