Bill McClintock, Chairman of The Property Ombudsman, takes a look at the changing lettings sector.
It’s half a century since I first got involved with the residential sales and lettings sector and I’ve seen a few national financial ups and downs in the intervening years.
Back in the early 60s, when I was a junior negotiator, both residential sales and lettings were part of the job.
So it has always struck me as strange that when the Estate Agents Act, 1979, was implemented somehow lettings activity appeared to be omitted from the definition of an estate agent. The Act’s definition is acquiring or disposing of an interest in land, apparently leases or tenancies have not been thought to constitute to such an interest. The act contemplates a lease with a capital value but perhaps nowadays that might include short leases. Read more of this post