Baroness Hayter is to make a new attempt in Parliament to make Client Money Protection mandatory for letting agents.
Hayter (Labour), along with Lord Kenney (Labour), Lord Palmer of Childs Hill (LibDem) and Lord Foster of Bath (LibDem), has tabled an amendment to the Housing and Planning Bill.
Hayter, together with Lord Tope (LibDem) has also tabled an amendment on electrical safety in private rented properties.
The Bill proposes a register of rogue landlords, but currently this would only be available to central and local government.
LibDem peers Baroness Bakewell of Hardington Mandeville and Lord Shipley have table an amendment that would require authorities to give access to the database to a tenant or prospective tenant.
The report stage of the Bill starts in the House of Lords on April 11.
The amendments tabled so far by peers is here
Comments (7)
If you are an agent and think your clients (the landlords) will benefit from CMP then have CMP and advertise it.
But why make it mandatory if you think that it gives you a competitive advantage? Perhaps because in fact most landlords do not really care.
In addition, as smile please points out it is rather awkward to explain to a potential client that CMP is great because it will protect them if you try to steal from them.
I maybe missing the point so i will put my hands up to that. and i am happy to be educated.
But unless you are looking to steal the clients money why would you take the insurance out? – Surely any corrupt agent will not buy the insurance anyway so it just penalises the good agents with an extra expense?
Have i missed the point?
Spot on.
It might help if they added a clause insisting Government fund a few thousand more TSO’s!
I hope Baroness Hayter succeeds.
Totally agree with MF. On electrical safety, why on earth isn’t it made illegal not to have a similar check to the gas safety check which is governed by Law rather than Regulation ?!
Making Client Money Protection mandatory for letting agents makes so much sense yet our government oppose it!