Housing minister Matthew Pennycook has once again committed to strengthening the regulation of managing agents, including as a minimum, mandatory professional qualifications.
The UK Government has again looked at Lord Best’s 2019 report on regulating the property agent sector. This has been more prevalent following the recommendations in the final Grenfell Inquiry report.
A commitment has been given to strengthen the regulation of managing agents. A further consultation will take place next year.
Pennycook addressed the House of Commons yesterday, promising to regulate ‘property agents’ and adopt the ‘RoPA’ recommendations, including those referring to firms which act as managing agents for leasehold blocks.
The Council for Licensed Conveyancers said it welcomed the government’s commitment to look again at Lord Best’s report on the regulation of property agents.
“Professionalisation of managing agents and ideally regulation of the industry, can contribute very significantly to the transformation of home buying and selling, leading to a faster, more certain, more secure and less stressful conveyancing process. We look forward to next year’s consultation,” the Council for Licensed Conveyancers said in a press statement.
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