Failure to regulate letting agents and managing agents will hurt leaseholders
Housing Minister Grant Shapps MP has announced that the Government has no plans to regulate the residential property sector. This has been met with disappointment from the managers of residential leasehold properties.
ARMA (The Association of Residential Managing Agents) has been calling for regulation for over 10 years and is dismayed that the new Government has taken the decision to leave the industry as ‘self-regulating’.
ARLA (The Association of Residential Letting Agents) , of which Phillip James Letting Agents in Worthing and Brighton & Hove is a member, has also been lobbying for regulation of an industry which relies on letting agents and landlords following recognised, but not compulsory codes of practice.
Leaseholders currently have the right to take managing agents to a Leasehold Valuation Tribunal (LVT) for issues such as the reasonableness of their service charges, but this falls short of providing landlords with leasehold properties protection against lack of accounting information, poor communication and failure to ‘deliver the promise’ of sound property management.
Phillip James Letting Agents in Worthing and Brighton & Hove is a full member of the Association of Residential Letting Agents (ARLA) , the National Approved Lettings Scheme (NALS) and The Property Ombudsman for Lettings.
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