MPs briefed on forthcoming regulations for letting agents

MPs briefed on forthcoming regulations for letting agents

The forthcoming regulation of letting and managing agents has received a briefing paper, which is now available to MPs.

The document, by the House of Commons’ housing policy analyst, Wendy Wilson, states there is presently no statutory regulation of the private rental sector in England. This is set to change following the then Secretary of State for Housing’s announcement last year that letting agents would be subject to regulation.

The briefing paper goes on to highlight the fact that while the various bodies representing letting agents are open to some form of regulation, they are opposed to the abolition of tenancy fees.

The paper is meant as primer for MPs interested in the forthcoming legislation and the debates that will be held as the related Bill passes through the Commons. It gives a comprehensive background to the issue of tenancy fees and regulation and how it has been handled down the years.

On the matter of regulation for all letting agents in England, the briefing paper says: “Scotland has introduced a registration scheme for letting and managing agents. Wales also requires agents to be licensed and in January 2017 the Department for Communities in Northern Ireland announced an intention to ‘introduce a regulatory framework for all letting agents including bringing forward legislation to ban letting agent fees’.

“This leaves England, currently, as the only area in the UK without comprehensive regulation of letting and managing agents.”

For those who are interested, the paper can be downloaded here.