Landlords warned against unregulated letting agents
News Category: Industry News
Published: 25-Apr-2008
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Buy-to-let landlords have been warned against the dangers of using unregulated letting agents, through which they are at risk of losing rents and deposits.
The advice was issued by Arla following the collapse of Hot Lets, the letting agents based in Colchester, which left many clients out-of-pocket.
Ian Potter, head of operations for the organisation, asserted that all landlords and tenants should find out important information about a letting agent, such as whether or not they are members of a professional body.
Speaking at the AGM of the Arla Essex Region on Wednesday, he declared: "There is too much money, heartache and property at stake for this to be left any longer.
"So far, government has been content to leave it to ARLA to self-regulate the Private Rented Sector. We cannot do all this alone. We can only regulate out own members and lead the way by example."
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