Is your agent up to scratch?
Letting agent use has hit a two-year high, with more and more of you relying on them to cope with increasingly complex rules coming in under the Renters’ Rights Act.
According to independent research, carried out on behalf of us here at the NRLA, 66% of privately rented homes now administered by a letting agent in some way.
But while some agents do fantastic job for landlords - and tenants - others can, and do, fall short.
With this in mind, we are taking the opportunity to remind you that, even if your agent fully manages properties on your behalf, it is you that is ultimately responsible for ensuring your legal obligations are met.
As a result, if your agent is not up to scratch you could find yourself in hot water and fines, in some cases, of up to £40,000.
Official data
It comes as official data shows that only just over a half of renters (59%) whose properties are fully managed by an agent are satisfied with their repairs service, compared to 73% of those renting directly from their landlord.
To date, ministers have only committed to consulting on plans for mandatory qualifications for estate and letting agents next year.
Now, with the new research proving landlords and tenants are increasingly reliant on agents, we are calling on the Government to bring forward plans for minimum education and training standards.
Confidence
Our chief executive Ben Beadle said: “Landlords are ultimately responsible for ensuring the properties they rent meet all required standards.
“However, with two thirds of rental properties now entrusted to some degree to the care of an agent, it is vital that they and their tenants can have confidence in the services that these letting agents provide.
“As the rental market becomes more complex, reliance on letting agents is only likely to grow further. Reforms to the agency sector should therefore go hand in hand with the wider changes to the rental market.
“Whilst most agents provide a good service, too many do not.
“Minimum training standards would help ensure those working in the sector understand their responsibilities and can provide a consistently professional service.
“Pledging yet another consultation next year is simply not good enough. Tenants, landlords and reputable letting agents deserve action now.”
More information
- Our award-winning training academy offers a Managing Property & Residential Lettings, Level 3 Certificate with Post Nominals (MNRLA) course, a nationally recognized qualification for letting agents, property managers, and landlords.
- If you would like to find out more about self-managing, then you can visit our Tenancy Management and Property Maintenance and Management knowledge hubs to find out more.
