RICS’ consumer letting survery reveals some shocking statistics

December 4th, 2012

The RICS’ consumer letting survey recently published highlights the lack of effective regulation of letting agents.

The current rental boom and few barriers to entry have presented a ripe opportunity for anyone wishing to set up a letting agency.  No prior experience is necessary, in addition they do not need to sign up to an industry body or code of conduct.  This situation has meant that landlords and tenants could fall victim to rogue letting agents.

The RICS survey reports ‘92% of tenants said they were satisfied with their lettings agent.  However, two thirds of those surveyed in key areas across England said they did not receive a property inventory service when moving into a property, demonstrating the worryingly low standards expected by tenants’.

Inventory clerk reports play a crucial part in resolving potential tenancy disputes.  In 2011 to 2012 cleaning was a reason in 52% of tenancy disputes, damage in 45% of cases and decoration issues in 28% of cases.  The Tenancy Deposit Scheme recommends that landlords and tenants have a good tenancy inventory reports for check-inand check-out backed by photographs.  These reports are a requirement and if they are not organised by the letting agent they should be arranged independently by the landlord or tenant.

At Inventory House we conduct X inventory checks each week.  Great Customer Service is important to us therefore we only work with letting agents that we know are reputable and are aligned to a professional body.