Latest News

Scottish Parliament Approves Budget

21 February 2019

Holyrood has voted yesterday (21 February 2019) to pass the Scottish Government’s Budget for the next financial year. Read More...

Client Accounting and the Annual Accountant Report – There Is Another Way

18 February 2019

So, you’ve refined your business idea, come up with a business plan, and your lettings agency is now in full swing. However, what you never anticipate in those daydream days of business building, is the amount of administration you will need to complete. Read More...

Tenant Fees Act passes in to law

12 February 2019

Following a long and enduring process, legislation banning most tenant fees in England received Royal Assent today. Read More...

Letting agent registration update

Tuesday 20 November 2018

Letting agent registration became mandatory for all agents operating in Scotland from 1 October 2018. Agents are becoming frustrated at the time taken for the to process their applications, but according to the Scottish Government many agents have submitted late applications, which has meant a bottleneck of applications. Even now, some agents haven't submitted their applications.

As of week commencing 19 November the Scottish Government have received 837 applications for registration. It is considered that 60 applications have been submitted ‘late’ i.e. existing agents who had not submitted their application to meet the 1 October deadline.

Of those who have applied there are currently only 151 that have been approved and issued with a Letting Agent Registration Number (LARN).

The numbers with a LARN are not as large as hoped as many of the applications were submitted on or around the deadline date and the Scottish Government are working their way through the applications.

All applications are being thoroughly scrutinised and evidence of all the documents you are purporting to have are being requested by the team processing the applications.

If you have not yet received your LARN and are eager to have this, in order to minimise delays we would therefore suggest that you have all the relevant documentation gathered and prepared to be exhibited. This includes qualification certificates for all of those on your application form, full details of any events, courses, training that you have been on to meet the CPD requirements, PI insurance and details of the CMP policy.   

The processing team are also going through every applicant’s website and should there be any content relating to lettings that is not within the legislation framework a LARN will not be issued until the website has been updated.

Even though there are many applications being processed, the Scottish Government still fully intend to enforce the terms of the Compliance and Monitoring Framework regulations for those who have not yet applied. Reports of unregistered agents have begun to be made and the first compliance letters have been issued. In addition, a reminder has been sent to those who have started an application on the online system. This sets out that the deadline has now passed; that it is an offence to carry out letting agency work; encourages them to submit an application as soon as possible; and makes clear that if no application is forthcoming and they carry out letting agency work, they will be subject to formal action.

If you are aware of any agents who have not submitted an application yet, or don't meet the registration requirements (qualification, training, CMP, client bank account etc) please report them to the Scottish Government by sending an email with their name and address to: mailbox LettingAgentRegulation@gov.scot. They will then investigate. 

Remember: It is a criminal offence to do letting agency work if you aren't on the register, unless you submitted an application to the register by 1 October 2018 and it has yet to be determined. If you're convicted, you could face a fine of up to £50,000, up to 6 months imprisonment or both.

For help understanding the requirements, download our suite of Fact Sheets from the members' area.