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Carsberg Review says letting agencies should be regulated

Sir Bryan Carsberg has today recommended in the Carsberg Review of Residential Property that a regulatory body is established to regulate letting agencies.

The review was commissioned by the Royal Institution of Chartered Surveyors in conjunction with the National Association of Estate Agents and the Association of Residential Letting Agents last July.

The recommendations also include that the new regulatory body should takeover the Office of Fair Trading’s power to exclude people from operating as estate agents.

Carsberg says landlords, letting and managing agents should be subject to appropriate regulatory requirements.

The recommendations include the suggestion that the Government should amend legislation on Home Information Packs to make them voluntary.

A RICS spokeswoman says: “Sir Bryan’s review highlights a number of key areas where the current approach is clearly failing. The processes for regulation and redress do not go far enough to protect the consumer and we agree that participation in regulatory and redress schemes needs to be both consistent and universal.

“They should include all estate agents, letting agents, managing agents and landlords. The RICS remains committed to building a coalition that can deliver property policy reform.”

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