The Letting Agent Code of Practice (Scotland) came into force on 31 January 2018.
The Code sets out the standards expected of Letting agents operating in Scotland. It covers:
- the standards of practice for those carrying out letting agency work;
- the handling of tenants’ and landlords’ money; and
- the professional indemnity arrangements to be kept in place.
The Code forms part of a broader regulatory framework for letting agents, which include:
- a mandatory register for letting agents with an associated ‘fit and proper’ person test;
- powers for Scottish Ministers to set training requirements that must be met before an applicant can be accepted on to the register;
- a means of redress for breaches of the Code to the First-tier Tribunal for landlords and tenants; and
- powers for Scottish Ministers to obtain information, and powers of inspection to help them monitor compliance.
Here at McLean Forth we welcome these measures. Letting agents are important in ensuring that the private rented sector is professional and well managed, and they help to provide the good-quality homes that tenants require. The Code reflects much of the existing good practice in the industry.
We regularly review our processes and procedures against the Code to ensure that we conduct our business in a way that is fully compliant. We also subscribe to a programme of continuing professional development to ensure that we can meet the “fit and proper” person test in each of our offices and to ensure that we remain fully compliant.
We are a Registered Letting Agent: our registration number is LARN1902062.