Landlords and Tenants at risk from inexperienced Letting Agents?
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Aug2008
As residential estate agents in Leeds see revenues drop an increasing number are becoming letting agents.But how easy is that? Could a Landlord using inexperienced letting agents in Leeds be placing himself at risk?
The legislation governing lettings is much more complicated than house sales and failure on the part of a letting agent to adhere to the rules can land the property owner and a tenant in deep trouble!
At Manning Stainton Lettings in Leeds all our Landlords rent money is kept in a secure client account and not used to fund our trading activities. Similarly we adhere strictly to the recent Tenant Deposit Legislation so that the position of both Landlord and Tenant are protected.
Our Lettings Director and senior managers are ARLA qualified giving an assurance of ethical dealings. If you are thinking of letting your property our advice is to use an experienced and professionally qualified letting agent to rent out your property. After all, would you use a taxi whose driver had not passed his driving test?
Landlords should realise that tenants like to deal with reputable lettings agents.
Below are some of the legislative matters which letting agents must comply with:-
Unfair terms in consumer contracts regulations 1999
Housing Act 1988
Section 11 – Landlords statutory Obligations regarding repairs
Landlord & Tenant Act 1985Protection from Eviction Act 19977
Criminal Law Act 1977Defective Premises Act 1972
Law of Property Act 1925Gas Safety (Installation and Use Regulations) 1998
Furniture & Furnishings (Fire) (Safety) Regulations 1988The Electrical Equipment (Safety) Regulations 1994
The Plugs and Sockets Regulations 1994Building Regulations 1991 – Smoke Detectors and Safety Glass
Tenancy Deposit Legislation 2007The Finance Act 1995 - Taxation Legislation governing Overseas Landlords
Sex Discrimination Act 1975Disability Discrimination Act 1995 (as amended 2005)
Race Relations Act 1976Human Rights Act 1998
Data Protection Act 1998Proceeds of Crime Act 2002
ASK THE LETTING AGENTS IF THEY ……
Safeguard your money – by having a specially designated bank account to receive and hold client’s money separate from the office account and protected by a client money protection bonding scheme which automatically covers the relevant money held in the account in the event of ‘misappropriation’.
Have trained experienced staff with extensive knowledge of the legislation and practicalities of day to day Lettings & Management issues.Do stringent referencing to minimise the risk of non payment of rent
Offer a comprehensive Rent Guarantee ServiceUnderstand the legal requirements regarding access and ‘quiet enjoyment’?
Conduct routine property visits?Understand the difference between statute & contract?
Belong to professional governing bodies RICS, ARLA, and NALS
............BECAUSE WE DO!!
