Lettings News Round Up
Summary of some of the latest news in the Lettings Industry
Letting agent calls for more government regulation
A letting agent has called for the government to bring in more regulation, as it claims the industry at the moment is open to abuse.
Will Linley, director of Ilkley-based Linley & Simpson, stated that anyone can set themselves up as a letting agent currently, even if their aims are unethical.
Regulation had been planned to be brought in after a long review of the sector, but it was cancelled at the last minute by the government.
Mr Linley pointed out that people do not book holidays with letting agents who are not accredited and registered.
“More needs to be done to help clients differentiate between the good, the bad and the plain ugly in terms of letting agents,” he told the Telegraph and Argus.
Earlier in the year, the Nottingham Post reported on local letting agent Thomas James Lettings being handed a £6,400 fine, as well as being told to pay £3,932 in costs, due to failing to apply for a housing of multiple occupancy licence.
Letting agents ‘must carry out proper background checks’
News Category: Management
Published: 15-Feb-2011
Proper background checks on tenants must be carried out by landlords and letting agents before people are allowed to move into a property.
This is the view of David Lawrenson, private rented sector expert at unbiased independent property investment consultancy LettingFocus.com, who stated that new landlords may encounter problems in the future if they do not buy the right type of property.
He explained that people entering the rented market need to be aware of future market trends and where demand for homes is likely to be strong in the coming years before they make a purchase.
Mr Lawrenson said problems could occur if landlords “buy inappropriate property, which they are going to struggle to let out and which is never going to make any money in the long term”.
He was commenting shortly after Countrywide reported earlier in the month that UK private rental properties are being let within around two weeks on average.
Rental properties being snapped up inside 15 days
News Category: Industry News
Published: 14-Feb-2011
Private rental properties are being let within 15 days on average – five days quicker than a year ago, reports Countrywide, the UK’s largest letting agency chain.
It says there are an average of 4.4 tenants vying for each property across the UK, with the South-West generating the greatest demand with an average of 5.9 tenants.

In the last quarter of 2010, Countrywide said the number of new tenants registering for rental accommodation increased by 14% compared to the same period in 2009.
Overall, the total number of new tenants registering for rental accommodation exceeded 200,000 last year – a record high with new tenant registrations increasing by 37%, which peaked between July and September 2010.
Agents throughout the UK reported a significant lack of property supply, with the average number of properties available to let per branch falling by 29%.
Article courtesy of Estate Agent Today
