Over the coming months the Scottish Government will be holding a series of events related to the coming letting agent registration that will start early next year. The aim of the registration is to ensure that every letting agent is competent and has met specific training requirements as proposed by the Scottish Government. Registration will start in early 2018 with all letting agents required to submit an application by 30 September 2018.
It is therefore extremely important to get your business prepared for this change to make sure that you are complying with the Letting Agent Code of Practice.
The Letting Agent Code of Practice (2016) covers a series of eight sections in which letting agents should comply in order to operate and follow key standards in the industry.
The Letting Agent Code of Practice schedule covers:
1.) Introduction (who does the code apply to, what if you don’t comply, using the code)
2.) Overarching standards of practice
3.) Engaging landlords
5.) Management and maintenance
6.) Ending the tenancy
7.) Communications and resolving complaints
8.) Handling landlords’ and tenants’ money, and insurance arrangements
As part of the Code of Practice, you must also make sure that you:
- Have a separate and dedicated client account
- Have professional indemnity insurance
- Have client money protection
Client money protection is an insurance which safeguards landlord and tenants money in case of misappropriation. This may include money for rental payments or money used for property repair and maintenance.
To find out more about client money protection in preparation for letting agent registration click here.
To ease agents into these changes the Scottish Government will be holding a series of events which will give agents the opportunity to hear directly from the Scottish Government and to ask any questions.
During the events discussions will be based around:
- Getting ready for registration
- Making sure your business is compliant with the Code of Practice
- Registration – qualification and training
A representative from the Council of Letting Agents will also give their view on what agents should do to comply and how to best prepare for the registration.]
The events are open to everyone, not just members of particular organisations, however booking in advance is essential.
For more information regarding Letting Agent Registration click here.
For the latest news on client money protection in Scotland read our blog here.
Details of the events are as follows:
Wednesday 29th March 2017 @ 10.00-12.00
Endeavour House, 1 Greenmarket, Dundee, DD1 4QB.
Wednesday 29th March 2017 @ 14.30 - 16.30
Johnstone House, 50-54 Rose Street, Aberdeen, AB10 1UD.
Thursday 30th March 2017 @ 11.30-13.30
Great Glen House, St Kilda Room, Leachkin Road, Inverness, IV3 8NW.
Monday 24th April 2017 @ 13.00-15.00
IET Glasgow Teacher Building, 14 St Enoch Square, Glasgow, G1 4DB.
Tuesday 25th April 2017 @13.00-15.00
Scottish Government, Victoria Quay, Edinburgh, EH6 6QQ.