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Hendon's consumers call for stricter regulations on lettings agents
Ninety per cent of people who have rented homes in Hendon agree lettings agents should be regulated, according to the Royal Institute of Chartered Surveyors.
RICS surveyed a total of 1, 014 adults who have rented a property in the past two years in 12 constituencies, including Hendon.
The vast majority of people living in the area supported RICS’ campaign calling for a change in the law to ensure the lettings industry is properly regulated in order to prevent people setting up businesses without appropriate qualifications or industry knowledge.
RICS research claim statutory regulation would cost £45million to set-up, but in the long run the introduction of professional standards would provide net benefits of more than £20million per year.
RICS global residential director Peter Bolton King said: “These findings demonstrate exactly why the government needs to act, not just to safeguard the thousands of tenants and landlords who fall victim to unscrupulous practice, but also to relieve pressure on the wider economy.”