Arla deliver licensing scheme to house of commons

In a survey by the Association of the Residential Lettings Agents (ARLA) , 95 per cent of consumers revealed that they believe lettig agents should be licensed and it is ashock for many to lean that there is currently no scheme in place at all.

In order to pervent the practices listed above, and offer assuance to consumers, earlier in the month ARLA launched a Licensing scheme for its members, in the hopes of establishing the high standards for letting agents in the UK.

Iain Wright, Parlimentary Under-Secretary of state in the Department for Communities and Local Government , will introduse the scheme in the house of Commons, saying that the esablishment of competency and qualification standards will have a wide-ranging benefits for consmers.

Ruth Lilley, Head of  Membership and Professional Development of ARLA, said: 'ARLA has lobbied the Goverment for 10 years to assist us in establishing higher industy standards. For too long sector has been seen as the black sheep of the property market with a lack of regulation of and a requir ement for redress to protect the consumer when the agent's failings are to the financial detriment of that consumer.

As of earlier this month, all ARLA members will need to be licensed as part of their membership, which includes the following implications:

Each individual member will hold a gold standard professional qualification relating to lettings;

All members must undertake Continuing Professional Development

Agents must ensure they have client money protection schemes in place to protect all tenant and landlord funds help held by their office;

All clients funds require to have an annual independent audit

Agents must have professional indemmity insurance in place;

Agents must sign up to an independent redress scheme;

Agents must abide by a strict code of practice;

 

 

 

 

 

 

 

 

 

 

 

Posted 17th September 2009