Lettings regulation should focus on 'consumer protection'

News Category: Industry News

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Regulation of the residential lettings industry must focus on consumer protection, one expert has claimed.

The comments are in response to the recently published Carsberg Report, which suggested that the industry was in need of regulation in the lettings sector.

Regulation will also help to improve the sector's overall image, according managing director of letting agent Martin & Co, Ian Wilson.

He told the Residential Landlord: "The UK private rented sector is experiencing sustained long term growth so it's good news that the report gives equal weight to its recommendations for the regulation of letting agents."

However, Mr Wilson also warned: "If the full benefit of greater regulation is to be reaped by both the industry and the general public, then it must be accompanied by a programme of public information."

The residential lettings sector has beenput under increased strain in recent months as prolonged financial turmoil begins to hit landlords.

However, Charles Peerless of Winkworth told the Times that many landlords are hanging onto property despite the struggle in a bid to capitalise on a strengthening market.


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