Arla advises against unregulated landlords

The incoming president of the Association of Residential Lettings Agents (Arla) has said he wants to ensure buy-to-let investors have a full understanding of their legal obligations as landlords.

David McMaster urged Arla members to promote the Association's Code of Practice, which outlines key regulations that people who have flats to rent in London must adhere to.

"In the current market, it is vital that Arla members take every opportunity to reinforce the message we must promote to the public," Mr McMaster stressed.

"They must use only regulated agents who are qualified in lettings and residential management. There is too much money at stake in rents, deposits and the value of people's homes and investments to ignore the benefits of using a professional Arla agent."

He added that increasing numbers of people can be expected to stay in the rental market given the property downturn and difficulties associated with securing a mortgage.

There are presently some 500,000 buy-to-let investors in Britain, owning properties worth a total of £120 billion.

News posted on 14th May, 2008