Fact sheet: The Letting Agent Registration (Scotland) Regulations 2016

Regulation offers the potential to professionalise the industry, stamp out bad practice, create transparency and give consumers more control over who manages their property. Minimum qualification requirements and statutory Code of Practices to be adhered to by all letting and managing agents in England and sales agents across the UK should be introduced.

Since the introduction of the Private Housing (Tenancies) (Scotland) Act 2016, agents have had to adapt to working with the new Private Residential Tenancy (PRT) and get to grips with what that means for them on a day to day basis. One issue that was raised as a potential problem was how to deal with joint tenancies under a PRT where one tenant wants to leave.

The UK rental market is on the brink of major reform, with the Act aiming to strengthen tenant protections and modernise the private rented sector. A central measure is the abolition of Section 21 “no-fault” evictions, expected to come into effect once the legislation is fully implemented. Propertymark Industry Supplier, Alan Boswell Group, explains how this change will significantly alter how landlords manage risk, making rent guarantee insurance (RGI) increasingly valuable as a safety net.