The Housing (Scotland) Act 2014 makes provision to regulate the letting agent industry in Scotland, requiring agents to meet certain training requirements and also adhere to a statutory code of practice. The Government is currently (April 2015) drafting the code of practice and training requirements and plans to launch a consultation on draft regulations in May 2015. It is anticipated that the regulations will be implemented in early 2017.
Chapmans welcome the Regulation of Letting Agents as it can be seen as a measure to improve the standards across the industry. We are confident that our own very high standards of service, conduct and training will more than meet the new codes. We also see opportunities to engage with new clients whose current agencies don’t meet or exceed these requirements.