‘Police probe bent MPs, not crooked agents,’ says TDS chief

 
Tuesday 1st March 2011

What an industry self-indictment!  And right at a time when the Letting Property sector is seeing exponential expansion (nearly 50% increase in homes being available for rental in 2010 as compared 2005 according to recent surveys)

Speaking at the 30th annual conference, Steve Harriott, chief executive of the TDS,  said that agents must take the lead in educating landlords and clients.

With billions of pounds in rents and deposits at stake, Harriott believes it is surprising that tenants still do not know enough to ask if their money is safe.

“Fully informed tenants would want to know about the property and the rent, the quality of the letting agent and how their rent and deposit would be protected. They would want to see league tables setting out fee levels, service standards and complaint and dispute handling performance.

“Agents are in a position of trust, just like MPs, but rogue letting agents appear to be treated more leniently. The courts are locking up MPs who steal £13,000 but ignoring agents who steal hundreds of thousands of pounds.”

Is this really good for the industry? Well, that’s probably best left to you to answer.