Property Management Regulation scrapped by Shapps
Housing Minister Grant Shapps has announced that he will be scrapping plans to regulate managing agents. The u-turn was met with dismay by an industry largely supportive of proposed regulation.
Speaking in Parliament, Mr Shapps confi rmed that with the property sector already governed by a well established legal framework, the Government has no plans to introduce any further regulations. Lucy Morton of W A Ellis said: "I believe this is a major error of judgement as it is essential to improve the standards of the Sector. I personally will continue to try and make the Government sit up and listen!"
Hugh Dunsmore-Hardy, of Winkworth agreed: "The new coalition government's decision to abandon very advanced plans by the previous Labour government that would have protected the interests of tenants and landlords is not a welcome move'.
New regulations were proposed by the previous administration in response to the Rugg Review of the Private Rented Sector, but have been judged by the new coalition to introduce too much additional red tape. These included a National Register of Landlords, regulation of letting and managing agents, and compulsory written tenancy agreements. With no cabinet seat, housing appears to be a low-priority for the coalition government in contrast to the previous Labour government, and regulation of the property management sector an early casualty.
Also scrapped by Shapps:
- New housing hotline offering free help and advice for private tenants.
- ‘Trip adviser' style word-of-mouth website comparing landlords.
- Requirement for written tenancy agreements in all tenancies.
- National register of landlords.
- Full regulation of letting agents.
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