Unfortunately not all letting agents are qualified or experienced and according to Carol Charge of the letting agency Leaders “The public need to be aware that letting agents remain unregulated as more people than ever are turning to lettings.”

Even if they do protect their clients’ money, the lack regulation is an issue that the public should be made aware of as last year the government confirmed it has no plans to regulate letting agents.

This was a decision that many in the industry and Leaders themselves were very disappointed by, having long called for better regulation within the sector. However Leaders have recently joined the nationwide SAFEagent campaign aimed at protecting tenants’ and landlords’ money.

“The SAFEagent scheme is one way in which the public can have more confidence in letting agents,” says Carole. “However, we would still urge landlords and tenants to be wary when choosing their letting agent, as the protection of client money is not the only issue. You also need to be sure that your agent will let the property safely, comply with all the legislation and protect your interests as a landlord or tenant during the tenancy.”

Says Carole: “Being a SAFEagent does not in itself guarantee all this, which is why our advice to landlords and tenants is to only use an agent with many years experience, a good reputation, client money protection and above all, membership of a professional body such as ARLA, NAEA or RICS. These organisations are self-regulating and ensure that member agents comply with a rigorous code of conduct.”