If you were one of the 300 or so people who attended the recent West Midlands Landlord conference at Walsall football club, you will heard David Cox from the Association of Residential Letting Agents talking about the new rules obliging letting agents to register with one of three government approved Redress Schemes.
David gave a forceful reminder that any agent who is not yet registered is in immediate risk of getting a £5,000 fine. If you are an agent and for whatever reason you have been putting this off or perhaps weren’t even aware of the change, this needs your attention now.
Any of your clients, whether it’s a landlord or a tenant can report you for not being registered. So if you don’t want to end up with a substantial fine; act today.
The redress schemes are designed to help where agents and their clients, whether it’s the actual owner of the property or the tenant, have a dispute with their agent and a reasonable solution can’t be found.
They’re nothing to be afraid off and although hopefully wont be used often, should provide reassurance and safety to everyone.
David Cox: one of the key speakers at the West Midlands Landlord Conference.
The conference, with its different speakers and workshops also looked at many other topical issues and we will be covering these in future posts. Do please get in touch at (firstname.lastname@example.org) to let us know what you think about this blog and what subjects you would like us to cover in future.