With more and more people renting out their property because it won't sell in the current economic downturn there is concern that not everyone will know or follow the rules.
The National Approved Letting Scheme, currently a benchmark for landlords and tenants, is pressing for the recently published Rugg Report to be implemented as soon as possible. The report emphasized the need for added protection for both sides in the rental sector.
NALS has told Housing Minister Iain Wright MP that whilst there is unanimous support for mandatory licensing of lettings agents through an organization independent of the industry that in order to be effective it is essential that the licensing criteria be strictly 'policed' with strong penalties applied to firms who do not comply and that it is ready to take the role on board.
'The licensing body needs to retain independence to provide a solution that commands respect and can deliver the necessary strength of purpose. NALS is the obvious candidate for this role. We have in place standards that are rigorous but achievable by all conscientious letting agents,' said Caroline Pickering, chairman of the National Letting Scheme Board.
'These standards are under continual review to ensure they best meet the changing demands of the industry. It's exactly what NALS was set up to achieve and we have the infrastructure, the independence and ability to deliver. Ultimately, we offer peace of mind to landlords and tenants who know that a firm bearing the NALS kite-mark is committed to delivering good and well-defined standards of service,' she added.
NALS requires all of its member firms to belong to the Ombudsman for Estate Agents Scheme, which adjudicates on complaints against member firms. In addition, all NALS agents are required to belong to a Client Money Protection Scheme ensuring that client monies are protected.
'Our commitment to consumers and agents does not stop there. We also require NALS firms to take part in a customer service audit which is carried out by Nottingham Trent University to check that service levels are indeed being met,' she continued.