SCOTLAND’S largest professional organisation for letting agents is urging those involved to ensure they are fully compliant with new regulations coming into force in less than a year.
The warning from the Council of Letting Agents (CLA) came as the details of the regulations were finalised last week. The new rules, including a statutory code of conduct and training requirement, will be mandatory for letting agents and relevant staff in the sector by January 2018.
In addition to signing up to a Letting Agency Code of Practice, letting agents will be required to be listed on a public register, whilst key individuals will also be required to meet a new, tough, minimum level of training.
Landlord Accreditation Scotland (LAS) and the Chartered Institute of Housing (CIH) Scotland have developed a new professional development programme called Letwell, designed specifically with the new requirements in mind. The CLA is urging everyone in the sector to ensure they comply with the new rules and undertake the proper training.
Chair of the CLA Policy Group, Amanda Wiewiorka, said: “The CLA strongly welcomes the new regulation for letting agents which will help professionalise our sector and drive rogue players out of our market, ensuring a higher level of service for customers.
“We have seen a steady increase in awareness amongst letting agents but there is still more to be done to ensure everyone who needs to be is compliant by the deadline. As well as agents, lawyers who undertake letting work will also be required to be on the register and, in some cases, complete additional training and qualification.”
The CLA said that whilst some involved in the sector have signed up to the necessary training already, many seem to be unaware of the impending deadlines or the impact the changes will have on their business.
Agents, lawyers and others who will need to comply with the new regulations are being urged to join the CLA to receive a discount on the Letwell training programme along with a host of other benefits to help their business.
“One way of ensuring compliance is to join organisations such as the CLA as soon as possible,” continued Wiewiorka. “As well as receiving a discount on the Letwell training programme, membership opens the door to a huge number of benefits for lawyers who also do letting.
“Membership includes access to documents and a helpline, regular updates and information as well as regular networking opportunities.”
Housing Minister Kevin Stewart, added: “I very much welcome the support of the Council of Letting Agents and other industry bodies in raising awareness of these important changes to the letting agent industry. A Registration Guide is now available from the Scottish Government to help letting agents understand what letting agent regulation will mean for their business. The guide can be found at: www.mygov.scot/letting-agent-registration.”
“With under a year to go until letting agent regulation begins, letting agents must start to take steps to make sure that they comply with the Code of Practice and have the necessary qualification and training.
“I would encourage those who must meet the training requirements to sign up with one of the qualification providers (Letwell or Propertymark Qualifications) as soon as possible.”
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