On the release of the Government review of regulation and redress in the UK housing market, operations manager of the Association of Residential Lettings Agents (ARLA), Ian Potter, comments:
“We fully support Professor Jones’ recommendations, which would see residential letting agents regulated and subject to the Consumers Estate Agents and Redress Act. Currently, regulation in the sector is voluntary, which is why I would urge both tenants and landlords to look for ARLA accredited agents, as they are subject to our strict codes of conduct.
“Whilst ARLA welcomes this report, it is only the beginning of the debate. Redress is somewhat like the cart before the horse in that it negatively regulates and tackles the misdemeanour once it has occurred. Alongside this we would like to see regulation that prevents it in the first place. We will be working closely with the CLG in the coming months towards an ultimate goal of raising standards across the residential lettings industry; we hope that this might serve as one element of raising consumer confidence in the property market when it is at such an obvious low. The current situation, where anyone can operate as a residential lettings agent, is clearly inappropriate and is doing nothing to inspire faith in the market.”
About ARLA
The Association of Residential Lettings Agents (ARLA) was formed in 1981 as the professional and regulatory body for letting agents in the UK. It was recognised that the requirements of the residential lettings market were so detailed and specific that a separate organisation was required to promote standards in this important and growing sector of the property market.
ARLA has 3,500 member offices throughout the UK including large multi-branch national companies as well as the smaller single office practices. Membership is achieved only by agents who demonstrate that they have a thorough knowledge of their profession and that they conduct their business according to current best management practice.
All members are required to have professional indemnity insurance cover. In addition they are covered by a bonding scheme which provides financial protection for client monies which have been misappropriated.
ARLA members are governed by the Code of Practice providing a framework of ethical and professional standards at a level far higher than the law demands. The Association runs a series of meetings, training courses and seminars at local and national levels to ensure that members are kept fully up to date with the latest best practice.
Examinations are held regularly and membership rules require all member offices to have professionally qualified staff by the year 2000. Members’ accounts are required to be audited annually ensuring that they conform to stringent accounting practice.
