Does a letting agent have to be registered?
Does a letting agent have to be registered?
You do not need to register if you’re: a lettings agent only carrying out lettings work not defined within the Regulations, for example, below 10,000 euros rent per month. an auctioneer already registered with HMRC as a high value dealer. publishing adverts or distributing information, for example in a newspaper.
How do I leave my letting agent?
Changing letting agent is easier than you may have thought and – broadly speaking – follows a simple process.
- Check your contract.
- Give notice.
- Look in to the finances.
- Get your tenant contact details.
- Confirm that your agent knows you are leaving.
- Collect keys and paperwork.
- Get the deposit transferred.
Do you have to be a member of the letting agency redress scheme?
From 1 October 2014, all letting agents have been required to be a member of one of three government-approved letting agency redress schemes! If your agent ISN’T a member of at least one, they are NOT complying with the law and could face persecution (contact your local council for further information).
What should I do if I have a complaint about my letting agent?
They will have a set procedure in place which should be handled by senior management. If you feel your complaint hasn’t been dealt with appropriately by your letting agent, you can take your complaint to a redress scheme they are a member of.
Is it possible to change your letting agent?
Changing letting agents isn’t as complicated as it may sound, and while you may be tied into a contract, there are ways around it, especially if your letting agent has failed to provide you with an adequate service. I’ve already written an in-depth guide on how you can either change or sack your agent, so I won’t regurgitate the details.
What should I do if I am in a verbal tenancy agreement?
If however, a tenant is in a verbal tenancy agreement then they should consider having a rent book, which they ask the landlord to sign when they pay their rent. The tenant may also wish to ask the landlord to provide them with a written Statement of Terms.
Can a letting agent give you a contract?
It is not unheard of that some letting agencies do not give out a letting contract at all, and business is contracted verbally. This is potentially a huge mistake as there is no standard terms and conditions attached to letting agent contracts. Therefore every letting agents terms will be different.
What happens if a letting agent goes bust?
Leaving the landlord potentially liable to the tenant to repay the deposit out of their own monies. If the letting agent is a member of the Association of Residential Letting Agents (ARLA) the landlord and their tenants deposit monies would be covered by their Client Money Protection Scheme even if the individual letting agent goes bust.
If however, a tenant is in a verbal tenancy agreement then they should consider having a rent book, which they ask the landlord to sign when they pay their rent. The tenant may also wish to ask the landlord to provide them with a written Statement of Terms.
Can a real estate agent give you legal advice?
Clients want their real estate agent to have an answer for every question they ask. Similarly, real estate agents want to help their clients. Just remember most states consider it illegal for a real estate agent to give tax or legal advice.