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to regulate or not ? that is the question...
31/10/2011
4:12 pm
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Since the government scrapped their plans to regulate landlords and letting agents do you think they should revise their decision?

I’m in two minds really.

  •     It would bring respectability back to landlording
  •     give tenants better standards of properties,
  •     (in theory) get rid of the rogue landlords & agents

BUT how could it be regulated without any of the bureaucratic bull**** ???

Or is self-regulation the only way forward?

04/11/2011
1:06 pm
Rigsby
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It has got to done for letting agents. People dont know how bad and unknowledgeable a lot of the agents out there its frightening. 

04/11/2011
5:30 pm
PaulBarrett
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I don't mind being regulated providing all tenants are re12gulated aswell!!

05/11/2011
12:28 pm
optionlettings.com
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We have no problem in being regulated! We became letting agents following a catalogue of unpleasant experiences with not one but virtually every single agent we came across. We felt there would be a demand for ethical agents who were landlords themselves, who understood their needs and were able to listen without offering any b*llsh*t and we were right.

05/11/2011
6:19 pm
Paul Routledge
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Hi Options,

 

Hey let me tell you our new regional agent in Wales called on 100 agents in Wales  last week and told them what we did and how we were free and how we could protect their landlord clients taking a bad tenant. They all said fantastic but only one joined so far.. Priory Estates in Barry in Wales.

So good on you Priory and if you want a letting agent in or around barry use them because they care about their landlords and not just an earner..

Paul R

06/11/2011
9:25 pm
ken
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PaulBarrett said:

I don't mind being regulated providing all tenants are re12gulated aswell!!

I agree – I think anyone seeking to become a tenant should be licensed after passing an exam.

 

Can't see why large dormitories shouldn't be used for the 'homeless' without a tenant licence.

 

Actually I can't see why dormitories shouldn't be used for any on housing benefit.

06/11/2011
11:48 pm
PaulBarrett
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Yeah they could be put in large houses and do some 'work' for their benefit.

we could call those place 'work houses'

None of this here's some benefit now go off and get a nice place ,  oh and here's some nice benefits which make it pointless you working with your educational standard;  oh and by the way knock out some kids whilst your laxing your days away as you will get more benefit and a larger property.

Even better if you are an illegal immigrant with a family we will give you even more in benefits.

07/11/2011
9:35 am
Paul Routledge
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Hi Raychard,

 

That’s the problem.

 

How do we get it to be simple yet effective without getting a bunch of over educated idiot politicians who just use it as spin to get a few more votes, or local authority socialists with jack boots trying to run our lives and business again and with it ending up as a failure like the last governments 13 years of housing policies. (right that's my rant done)Laugh

 

I think we could start by a simple theory test on the basics of being a landlord that would give them a registration and basic licence like a provisional and then have an advanced landlord licence which would include a standard set of questions about property related questions about safety issues and maybe even an advanced licence showing a landlords ability to deal with volatile situations without being heavy handed.

A scheme like this could be very simple and a tenant could look for a landlord who has the degree of licence that they want before renting a property.

 

I wrote a piece on tenant protocol (have a look) for new landlords but you may be surprised how many old ones didn’t even know the basics. Some landlords are not bad they are negligent because they just don’t know what they are doing, so obviously they look negligent.

 

Paul

07/11/2011
9:43 am
Paul Routledge
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PaulBarrett said:

Yeah they could be put in large houses and do some 'work' for their benefit.

we could call those place 'work houses'

None of this here's some benefit now go off and get a nice place ,  oh and here's some nice benefits which make it pointless you working with your educational standard;  oh and by the way knock out some kids whilst your laxing your days away as you will get more benefit and a larger property.

Even better if you are an illegal immigrant with a family we will give you even more in benefits.

Bring back the work house !!Laugh lol

08/11/2011
2:51 am
PaulBarrett
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I am afraid there is definitely the case  of the undeserving poor.

Those that make no effort, we all know who they are!

08/11/2011
2:57 am
PaulBarrett
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Isn't there a NVQ qualification for landlords?

But how to 'persuade' landlords to take the qualification.

Mind you I think the councils could specify that all their LHA claimants may ONLY use landlords that have the appropriate NVQ level qualification.

Councils could run courses at a nominal cost for it's LHA landlords and that way it would help out all parties.

08/11/2011
8:14 am
Rigsby
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In this age of technology all the information you would ever need to rent out a property is at hand to tenants and landlords.

If a landlord chooses to hand over a asset worth 100's thousands to a stranger without doing their research and understanding the risks then they have to take some of the blame when it goes pear shaped.

 No matter what checks you do on a tenant it still comes with a certain risk all you can do is reduce them to a mininmum.

 

If you want 100% safe put your money in the post office  

09/11/2011
3:03 am
PaulBarrett
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Or make sure your tenant qualifies for RGI!?

Appreciate that just covers the rent risk and there is still the issue of damages caused to properties and thefts for which you would need insurance for.

09/11/2011
4:43 pm
Rigsby
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Thats where the deposit and guarantor kick in.

13/11/2011
8:46 am
Paul Routledge
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Hi all

You would be surprised how many don't reference and only last week we had one landlord we spoke to who didn't even have the basic details like NINO or even DOB and could not understand why the guy disappeared over night owing him 2K and now want to know how he can find him; find who “John Smith”.

I told him he probably would never find him and never get his money back and sent him to our tenant protocol for a quick lesson in..Letting property /templates/tenancy-protocol-help/

Paul R

18/11/2011
7:48 pm
PaulBarrett
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Couldn't there be some sort of tie up with BTL mortgage banks which give advice as to their recommendations as to how tenants should be sourced.

It is after all in their interests that the BTL mortgage is paid via rent.

Could not LRS information be supplied with every successful BTL mortgage application?

It would clearly be to the advantage of the BTL lender that a 'new' landlord knew about network referencing etc.

Perhaps a word with the CML regarding provision of such information might assist BTL lenders with bad debts caused by bad tenants who were sourced by landlords NOT using network and othe referencing.

18/11/2011
8:39 pm
pierceandco.co.uk
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To add to this debate about regulation –

Having letting agents regulated seems like a good idea but that alone will not eliminate the rogue agents that go bust with clients money, or worse Confused

For me its about following the ethics of the industry, being transparent and being able to sleep at night knowing we are doing the very best for our clients, but also, and most importantly, knowing we are doing every bit of due diligence we can to reduce or eliminate any risk for our landlords, which is why we use this website as our first layer referencing.

I have no problem being regulated because I know that if challenged, my company and I will stand up to the scrutiny Laugh

Mark A Reynolds

Pierce & Co Residential Letting Agents

http://www.pierceandco.co.uk

01296 20 1234

19/11/2011
8:27 am
Paul Routledge
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CarolePierce said:

To add to this debate about regulation –

Having letting agents regulated seems like a good idea but that alone will not eliminate the rogue agents that go bust with clients money, or worse Confused

For me its about following the ethics of the industry, being transparent and being able to sleep at night knowing we are doing the very best for our clients, but also, and most importantly, knowing we are doing every bit of due diligence we can to reduce or eliminate any risk for our landlords, which is why we use this website as our first layer referencing.

I have no problem being regulated because I know that if challenged, my company and I will stand up to the scrutiny Laugh

Hi Carole,

You are 100% right and as an Agent you guys are 1 of the best, but I think its also starting of with ethics, too many people are after the fast buck these days rather than building something that is stable and long term.

Maybe as we grow we could start a accreditation side to the site for landlords and agents, but it will be very difficult to control and get true opinions from tenants. The reason is that a reference from a lot of tenants will be based on the landlord being bad because he got the hump because the rent was never paid.

So there would be data control issues and ICO compliance problems.Surprised

Paul

19/11/2011
6:53 pm
pierceandco.co.uk
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Paul Routledge said:

Hi Carole,

You are 100% right and as an Agent you guys are 1 of the best, but I think its also starting of with ethics, too many people are after the fast buck these days rather than building something that is stable and long term.

Maybe as we grow we could start a accreditation side to the site for landlords and agents, but it will be very difficult to control and get true opinions from tenants. The reason is that a reference from a lot of tenants will be based on the landlord being bad because he got the hump because the rent was never paid.

So there would be data control issues and ICO compliance problems.Surprised

Paul

 

Thanks Paul. You will notice that I have highlighted some of your text.

Firstly -This is why regulating letting agents will never stop rogue agents going pop and taking their landlords cash with them – You simply cannot stop people from doing what they want – lawfully or otherwise. My partner Mark and I, have spent between us 58 years in a highly regulated environment, both public sector and banking, yeah yeah I know I can hear the groans from here Smile, but my point is, having been regulated so much it is in our blood to make sure we get it right. Laugh

 

Secondly – The part about the ICO compliance. We are a fully registered agent with the ICO (Information Commissioners Office). Some agents either believe they don’t have to register or are complacent in doing so. That is not a dig at anyone, more reinforcing the fact that we take data privacy very seriously and take all reasonable steps to secure it, but more importantly our landlords are safe in the knowledge they can ask us at any time for the information we hold on them. You won’t catch us leaving a laptop in the back of a taxi, or throwing away any testimonials in the park bin lol! Laugh

 

QUOTE PAUL: too many people are after the fast buck these days – Like many landlords Confused

Mark A Reynolds

Pierce & Co Residential Letting Agents

http://www.pierceandco.co.uk

01296 20 1234

19/11/2011
7:44 pm
LorettaWight
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the market has changed slightly as many people find themselves having to let their houses to

pay the mortgage and prehaps a little nieve about some tenants. we like to think that people

are like ourselves ..respectful, honest etc  but people are individuals. We want to trust agents , people etc

So there is good tenants and bad tenants.  I have both at the moment irrespective of all the checks done.

I have registered with the council registry in scotland who can help occasionally and homeless people advice groups. They send  out advice in changes of the housing law for example. However , with the housing benefit allowance changing for the under 35 year olds (getting only a share accommodation allowance) we may see more problems in the future with current people unable to pay their rent. housing benefit should also be paid directly to the landlords/agents. how many housing departments have conducted fraud investigations into tenants spending their housing benefits on other things. They are happy for the landlords to pick up the slack.  

 

regulating agents is a good idea and a professional membership required.  Most professionals get struck off for misconduct so why not agents/landlords.

we are dealing with people so there is always a risk both ways. 

 

    

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