Rogue Lettings Agents

Meeting: 
MQT on 2013-02-25
Session date: 
February 25, 2013
Reference: 
2013/0550
Question By: 
Len Duvall OBE
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Following its 2012 'consumer letting survey', RICS highlighted the problem of rogue lettings agents 'cash[ing] in on the current rental boom due to a combination of consumers' low expectations and a total lack of effective regulation', resulting in the lettings sector becoming 'the property industry's Wild West'. Do you believe the measures you've put in place to address this serious issue will yield significant results?

Answer

Answer for Rogue Lettings Agents

Answer for Rogue Lettings Agents

Answered By: 
The Mayor

As set out in my Housing Covenant consultation paper, my twin objectives for London's letting agent market are to improve fee transparency and ensure that consumers have access to an independent redress scheme. These objectives align closely with those expressed in the RICS research. I will continue to work with Government to ensure that these objectives are met.