Boris believes letting agents should belong to an ombudsman service
April 11, 2013
Boris Johnson, the Mayor of London, believes that letting agents should all, at least, belong to an ombudsman service.
This new stance shows that there are some Conservative party members who are starting to support some kind of regulation of Private Rented Sector (PRS) operators, such as letting agents.
Until now the Mayor and his team have stuck to the party line, that the PRS would regulate itself and thus help lower the amount of red tape. With the PRS continuing to grow and house an increasing number of Londoners means that those in power are slowly becoming aware of the need for there to be more focus on the sector. Last year the Mayor published his plans for a London Rental Standard, which aims to improve conditions in the PRS through self regulation.
The Deputy Mayor for Housing, Richard Blakeway (who is a contributing author for the upcoming PRSupdate Spring/Summer edition) stated that the majority of London’s letting agents do provide an invaluable service to London’s growing population but there are a number of operators who fail to take their responsibilities seriously enough.
The Deputy Mayor said: “This is why the mayor is working towards a new, voluntary, London Rental Standard and supports the campaign to ensure letting agents join an ombudsman, something which is already a legal requirement for estate agents.
This would not only give peace of mind to the quarter of Londoners who are private renters but also create a more competitive market for letting agent services.”
Young London, the letting agency arm of Young Group, is a member of The Property Ombudsman and is in favour of having letting agents provide residents with the ability to receive structured redress where necessary.