Latest News

The beginning of a new era

17 June 2019

On 14 June, after several weeks of voting for board and presidential roles, Propertymark’s Annual General Meeting (AGM) revealed who will be taking us forward into the coming year. Read More...

UK agents come together to set direction of travel for Propertymark

14 June 2019

The Propertymark Annual General Meeting (AGM) took place on 14 June at the St Martins Lane Hotel, London, attended by a small group of members, some of whom had travelled from across the country. The Annual Report and Accounts had been shared with members earlier in the month and voting for board and presidential roles had been going on for several weeks. Read More...

The summer of change for letting and estate agents

14 June 2019

Lloyd Clarke, Partner at Attwells Solicitors writes for Propertymark and discusses the expansion of National Trading Standards and how this impacts the estate and letting agency sector. 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