RoPA's proposed new regulatory framework is focused on estate agents in the UK and letting and managing agents in England. The private rented sector is a devolved issue meaning the Welsh and Scottish Governments have already introduced legislation to regulate letting agents.
RoPA's report recommends that:
- All agencies operating a residential property business should be licensed and licensing should include a fit and proper person test for company directors
- All staff delivering ‘reserved activities’ employed within residential agency business should be licensed and adhere to a Code of Practice
- All staff delivering ‘reserved activities’ employed within residential agency business should hold a qualification at Level 3 or above
- All company directors and management agents should hold a qualification at Level 4 or above
- A new regulator be appointed to oversee compliance with an overarching Code of Practice
Matthew Pennycook MP, Shadow Housing Minister said that a future Labour government would look to introduce the recommendations in Lord Best’s report to regulate property agents.