Call for tougher regulation in UK residential lettings industry

[Nicholas Wallwork]

The Association of Residential Lettings Agents (ARLA) has called for unscrupulous letting agents and landlords in the UK to either raise their professional standard or leave the industry. This comes at a time when tenant demand is predicted to remain far higher than supply this year, with the shortages being particularly pronounced in London and [...]

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[TurnKey Landlords]

I'm not surprised; with property prices facing another stagnant year and little new property entering the market, rent will likely continue to climb - prospective yields will dictate lending, and demand will push up said yields accordingly. Savvy investors will prosper in such an environment, but the terms 'savvy investor' and 'good landlord' are, unfortunately, not always inclusive.

The market will thus attract a less conscientious breed of investor. All professional bodies should, and will wish to, deter those who aren't prepared to maintain good standards within the market.

I'm happy to report that, in my experience at least, the majority of landlords are informed and socially astute in their practices. I think 2013 shows a lot of promise for the industry, and we should try to keep it this way.

More should be done to educate new landlords as to their responsibilities and to the finer points of tenancy law. To this end, I am in favour of local authorities offering landlord accreditation schemes.