In a survey of its members, the Association of Residential Lettings Agents (ARLA) showed that over three quarters (76%) reported that estate agents in their local area have moved into lettings as a result of the market in the last six months.
ARLA believes that a high proportion of these agents are not being regulated properly or meeting the required standards for lettings agents.
Ian Potter, operations manager of ARLA, says this raises serious questions about their professionalism and believes it could damage the industry’s reputation.
He commented: “In order to make the transition from an estate agent to a lettings agent, they need to have studied more than a hundred different pieces of legislation, and pass minimum competency tests to ensure their ability to advise clients to the required standards.
”This is a big concern for landlords and consumers. Those consulting an agent need to be absolutely sure they are getting the best advice possible to ensure the safety of their investment.”
ARLA is launching a licensing scheme in the House of Commons on 5th May this year to further strengthen its commitment to best practice and professionalism in the lettings industry.
