Comment on lettings regulation reform from Prime Central London estate agency, W.A.Ellis
Lucy Morton, senior partner and head of lettings at W.A.Ellis, comments: “I have for many years been advocating the regulation of lettings agents and worked with Baroness Hayter on the Property Standards Board.
She proposed an amendment to extend the scope of the Estate Agents Act to include letting and managing agents and this was debated in the House of Lords on Wednesday.
She rightly said that there is ample evidence of rogue agents in the industry and we need to find a way to ensure that these agents do not get away with it any longer.
At the very least, all agents should have Client money protection, professional indemnity insurance and sign up to a redress scheme.
“The amendment was withdrawn; however this is very normal and generally means that it will come back in the report stage and that an amendment may still be possible.
It never ceases to amaze me that the Government will not regulate our industry and a small amendment to include lettings agents under the Estate Agents Act would go a long way to improve standards and professionalism in our industry and put a stop to the rogues.”
W.A.Ellis is currently marketing a range of properties on the sales and lettings market; for further information, please call: 020 7306 1600 or visit www.waellis.co.uk
Established in 1868, W.A. Ellis is an independent estate agency with expertise in property sales, lettings, valuation, development and investment in Prime Central London. Its sales and lettings team are readily available for comment on the property market.