293. Regulation of letting agencies and property management agencies.

(2)     Accommodation Agencies

(i)     Scope of Regulation

293.     Regulation of letting agencies and property management agencies.

Until recently, there was no statutory regulation of private sector letting or property management agents in England. A system of self-regulation operates through the codes of conduct of trade associations, but there is no legal requirement for agents to be members of such bodies1. These professional bodies may operate client money protection schemes which reimburse landlords and tenants in the event of misappropriation of rents or deposits by agents.

However, in recent years important changes to the law have been introduced.