Latest News

Propertymark's predictions for 2019

14 December 2018

Last week, we took a look back at 2018 and analysed how the market has changed over the last 12 months, but today we're peeking into our crystal ball, to see what's to come in 2019. Read More...

Propertymark Protected agency launches its 2020 green vision campaign

13 December 2018

ARLA Propertymark Protected Newton Property, one of Scotland’s leading lettings companies, has this week launched its national 2020 Green Energy Vision campaign helping Scotland embrace a more sustainable, environmentally-friendly future. Read More...

Double-edged sword as cost of student lets rises

10 December 2018

Universities across the UK have seen student numbers escalate over recent years and they had to turn to the private sector to help ensure supply of accommodation. According to a report released last week by Unipol and National Union of Students (NUS), this has been a double-edged sword, bringing both benefits to students, and cost implications. Read More...

Industry Regulation becomes a reality

Sunday 01 April 2018

Government has today announced its response to recent consultations on industry regulation and Client Money Protection in England. If passed, the new measures will mean that agents will be required to adhere to a new Code of Practice and obtain a nationally recognised qualification, with at least one person in every organisation required to have a higher qualification.

A new independent regulator will have responsibility for agents' working practices, with enforcement powers to deal with rogue agents. There may also be criminal sanctions for those who severely breach the code.

Other proposals include support for leaseholders to challenge service charges that they feel to be unfair and switch their managing agent.

The new Code of Practice will be developed by a working group comprising representatives of letting, managing and estate agents, along with tenants and regulation experts.

David Cox, Chief Executive, ARLA Propertymark comments:

"We are hugely supportive of these proposals. After 20 years of campaigning, the Government has finally listened to our call for proper regulation of the industry.

"For the last two decades, successive Governments have passed significant amounts of complex legislation on landlords; none of which have been properly policed or adequately enforced. These announcements demonstrate a very sensible shift towards focusing on the root cause of the issues affecting the sector rather than trying to find legislative solutions to individual problems.

"For landlords, their rental property is usually their biggest asset after the home in which they live; and for tenants, it’s their home. It must be the right of every landlord and every tenant to have a letting agent who knows what they are doing, is professionally qualified and the money they entrust to their agent is protected. This is a huge step towards creating a level playing field across the industry, and we look forward to working with the Government on this."

READ THE DETAILS HERE

CLIENT MONEY PROTECTION

We are delighted that the government's response to the consultation on Client Money Protection is to introduce privately-led schemes alongside civil penalties of up to £30,000 for agents who do not comply with the scheme.

READ THE DETAILS HERE