Arla calls for regulated letting sector
The Association of Residential Letting Agents (ARLA) has renewed its call for regulation in the buy-to-let sector.
According to the professional body, people who do not check their landlord's credentials run the risk of being left out of pocket.
The association singled out professional indemnity insurance (PII) as one key thing that all tenants should ensure their landlord has. Without PII, the industry group warned that tenants would have less legal recourse when problems arise.
That could impact upon tenants' ability to successfully gain compensation from landlords, it said, as without PII financial recompense could not be guaranteed.
"So far, government has been content to leave it to ARLA to self-regulate the private rented sector," commented Ian Potter, ARLA head of operations. "We cannot do all this alone - we can only regulate out own members and lead the way by example."
Another key credential tenants would be well-advised to ask about is their landlord's membership of the tenancy deposit protection, Mr Potter added.
Published 1st May, 2008
© 2008 Estates IT Limited
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The Association of Residential Letting Agents (Arla) has renewed its call for regulation in the buy-to-let sector.