As the credit crunch forces some estate agents to go out of business, others see lettings as the route to a quick buck, says Taylors Lettings. But they are ill-equipped to operate in such a highly regulated and specialist industry.
“We are already receiving a lot of complaints about their incorrect advice, and ignorance of the legal complexities, which means that they are putting landlords, and their tenants, at considerable personal and financial risk,” comments Josie Percival, lettings manager of ARLA-registered Taylors Lettings, who are part of Countrywide the UK’s top specialist agent.
“If the fees look too cheap, then the agent is not qualified to do the job. It’s a hard lesson for anyone to learn but landlords are coming to us every day, hoping we can dig them out of the holes untrained agents have got them into.”
Private and investor landlords, some with multiple property holdings, “are transferring their entire portfolios to us to let and manage; once bitten, they are certainly not intending to get caught again.”
Some of the biggest problems relate to Tenancy Deposit Protection, which is mandatory, “but unqualified agents simply don’t know about the regulations, nor do they understand the gas, electrical and fire safety regulations, leaving landlords open to massive fines or even imprisonment for non-compliance.”
To find out more, contact Josie Percival on 01923 210370.
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