More calls to protect tenants' rights
- 12th October 2010
- Renting Property News
As the number of people renting property soars, industry watchdogs are calling for stronger rental regulations.
The last year has seen an increase in protection for tenants and more legislation may be set to follow if the government can be persuaded. Notwithstanding Government spending cuts, the pressure to do more is on from the Association of Residential Letting Agents.
For tenants' rights, The Tenancy Deposit Scheme and Selective Licensing have been a step in the right direction. But ARLA believes that tenants and landlords need further blanket protection. It says that all rented property should fall under a Client Money Protection scheme, similar to an ABTA Bond. As things stand now, only rentals offered via ARLA member lettings offer a specific level of professional industry standards.
Scotland has already proposed its own measures to regulate the private rental market. Rogue landlords could suffer fines of up to £50,000 and a ban from trading for up to five years.
Stephen Ludlow comments: "Whilst there is a shortage of properties, tenants need to make quick decisions on choosing property. Such pressure could lead to cutting corners and unscrupulous landlords might take advantage. It sounds simple but being prepared by knowing your rights and knowing what you want is vital."
Given the considerable size of the rental sector, pressure brought to bear may yet result in further legislation. Meantime the advice to tenants is to rent through a reputable ARLA letting agent.
Tips for renting safely in a busy market - see below
It sounds simple but being prepared by knowing your rights and knowing what you want is vital.
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