Dangers of inadequate landlord protection

Belvoir Lettings in Kettering is warning its landlords that they should be choosing an agent who is part of both an ombudsman scheme and a part of a SAFEagent scheme, or they could be at risk.The lettings agent which has an office on Newland Street in Kettering is warning landlords that choosing an agent who is not part of both schemes could leave them wide open to scams and lost money should the agent go bust.

The warning came after the SAFEagent organisation www.safeagents.co.uk , issued a similar warning to landlords ahead of its second national SAFEagent Awareness Week, reminding consumers of the importance of choosing letting agents that offer client money protection.

It is great that the Government has sought to protect both landlords and tenants by giving them the right to seek redress, but this only goes so far. The recent changes to the Enterprise and Regulatory Reform Bill do not cover client money protection, so if an unscrupulous agent vanished with a landlord or tenant’s money, they wouldn’t stand much chance of getting it back. I would advise landlords to do their research when choosing a lettings agent and select an agent, which uses client money protection, and who is part of an ombudsman scheme to reduce the risk

“Belvoir Kettering has not only a client money protection scheme in place, but we are in an ombudsman scheme too (OEA)

More than 2,000 letting agents have now signed up to the SAFEagent campaign to signpost their commitment to protecting landlords’ and tenants’ finances and all agents registered belong to a recognised client money protection scheme which reimburses consumers in the event of misappropriation of clients’ funds. Quality agents should also be a member of Safeagent or ARLA.

Landlords and tenants need to shop around to ensure that they are going with a reputable agent to avoid being ripped off. We invite anyone interested in using our services to come and have a free no obligation meeting with us to discuss their options.

Don’t be fooled into handing your property to a low fee agent who’s service will certainly be inadequate and they will not be covered by any of the organisations mentioned above.