ARLA released a special statement today, saying that as the demand for housing in the Private Rented Sector is likely to soar due to the credit crunch, they are warning agents and landlords not to take advantage by cutting corners.

ARLA pointed out that both the law and best practice has moved on a long way since the early nineties when the last housing crisis produced soaring rental demand, cowboy agents and rogue landlords. They are worried that some landlords may try to cut corners and not comply with legislation covering safety and the protection of tenancy deposits. There could be an upsurge in lettings agencies opening for business, without being members of the professional bodies, having the right qualifications and providing clients money protection.

Read the full press release here.

So much for London becoming a renters market …

The activity in lettings is up 25% compared to a year ago, confirms The Financial Express.Right, right, you’ve heard the numbers already. But seriously – letting agents are spilling phrases like: “Fantastic month” and “We’re having a huge boom”. They sound too enthusiastic, even for the good salesmen that they are!

Article found via The Rat & Mouse.

ARLA’s president Robert Jordan said at their annual conference that licensing of all lettings agents would be the solution to bad practice in the rental market. Especially now that the flat house sales will encourage insufficiently qualified agents to go into lettings as a survival mechanism:

“This is a very great worry, because if agents are not already involved and qualified they could be a risk to the market. Unqualified agents, together with amateur landlords, are responsible for the majority of problems in the private rented sector. The missing link is that government should bite the bullet and license all lettings agents and landlords.”

Via PR Newswire Foto from the conference brochure (pdf)