28 June, 2006
The National Approved Letting Scheme (NALS) has welcomed the publication of the outcomes of the Tenancy Deposit Scheme Consultation exercise by the Department of Communities and Local Government (DCLG) and confirmation that the date of commencement for Tenancy Deposit Schemes, previously set as 1 October 2006 is being reviewed.
Although the date for the introduction of schemes may have moved, NALS believes that if agents want to access an insurance based scheme and continue to hold deposits, they will need to act now and start thinking about how their business operates. They need to consider whether potentially they will be able to meet the entry criteria set down by whoever wins the contract to operate an insurance based scheme(s).
Isobel Thomson, NALS Operations Director said:
“No agent will want to lose business by having to say to a landlord that they are unable to join an insurance based scheme. Although the conditions for accessing such scheme(s) have not yet been announced, it is clear that firms will have to benchmark themselves against some form of performance criteria.”
As an industry wide accreditation scheme NALS is open to any agent who meets its strict criteria which include the necessity to have in place client money protection insurance and to adhere strictly to defined service standards.
Notes to editors
NALS is backed by the Government and leading professional bodies and is the most reliable benchmark for landlords and tenants to compare the standards of service they receive from residential lettings agents. All members of the scheme offer client money protection, maintain professional indemnity insurance and operate professional customer complaints procedures. For more information go to www.nalscheme.co.uk
For further press information please contact:
Isobel Thomson, Operations Director, NALS, on 01242 581712
or John Gisborne at Splash Communications
T: 01225 348008 E: firstname.lastname@example.org