News

New Letting Agent Regulations to take effect from 31st January 2018

In February 2016, The Letting Agent Code of Practice (Scotland) Regulations 2016 were laid before the Scottish Parliament and will become effective on 31st January 2018. The code sets out the standard of conduct expected of letting agents.

Nik Madan, president of ARLA, said: “We’re pleased that Scotland is moving towards sensible regulation in the sector, and have set out robust minimum training requirements to ensure a professional industry.”

The regulations outline those who will be required to undertake training and training requirements:

Persons required to undertake training are:

   - the most senior person in a letting agency business (unless they have no input into the letting agency’s day-to-day running)
   - all persons directly concerned with managing and supervising of a business’ letting agency work

Training Requirements & Qualifications

The persons specified who will be required to undertake training will be required to hold a qualification at the level of or equivalent to, level 6 or above on the Scottish Credit and Qualifications Framework*; and includes training on:

    - the legal obligations relating to letting agency work;
    - the rights and responsibilities of landlords and tenants;
    - handling landlords’ and tenants’ money;
    - arranging, managing and ending a tenancy;
    - managing repairs to and maintenance of a property;
    - customer communications and complaints handling; and
    - equality issues

*Where the qualification was obtained more than 3 years ago, persons will be required to have undergone 20 hours (15 formal and verifiable and 5 informal) of training over the previous 3 years (ending with the date the application for registration).

Sources:
Mortgage Introducer
Government Legislation
TC Young
ARLA