Leading property organizations have united to press the government for immediate implementation of long-delayed regulations for residential letting agents. In a joint letter to Housing Secretary Angela Rayner, Propertymark, The British Property Federation, the Royal Institute of Chartered Surveyors, the Federation of Private Residents Associations, and The Property Institute have emphasized the urgent need for setting standards in the sector.
The coalition is advocating for a comprehensive code of practice along with mandatory qualifications and competence standards for letting agents. This call to action follows the recommendations made by the Regulation of Property Agents (RoPA) five years ago. RoPA was tasked with advising the government on a new regulatory framework aimed at enhancing professional standards within the industry.
Despite these recommendations, the previous government, 18 months ago, stated that it was still considering the introduction of property agency qualifications and minimum standards. In May, Baroness Taylor of Bolton, chair of the Industry and Regulators Committee in the House of Lords, expressed disappointment at the Department for Levelling Up, Housing and Communities’ (DLUHC) response to the Lords’ committee inquiry findings on the necessity of regulation.
A Ready Framework
In their letter, the property groups assert that RoPA’s report provides a well-considered framework that is ready for legislative action. “Professional bodies have long called for and we stand ready to deliver effective regulation in the sector,” the letter to Rayner states.
The organizations have requested an early roundtable meeting with Rayner to discuss the new government’s proposals and potential legislative action. They emphasized that the move would garner wide support, including from the Opposition, which previously cited a lack of parliamentary time as the reason for inaction.
As the property industry awaits a response, the pressure mounts on the government to fulfil its promise of elevating standards and ensuring competence among residential letting agents.