A new scheme has been introduced to protect renters from cowboy letting agents. Under the scheme all members of the Association of Residential Letting Agents (ARLA) would have to operate the scheme.

Under the scheme, all ARLA members sign up to an independent redress scheme and they must have arragements in place to protect any money they hold for clients. They must also have an annual audit of the client’s funds they hold and have professional indemnity insurance. Added to this, at least one member of their staff must hold a professional qualification relating to lettings and keep up to date through continuing professional development training.

The head of Membership at the ARLA said, “Our licensing scheme will be the gold standard for letting agents, offering clients best practice advice and service – including total commitment to the protection of client;s money.”

The ARLS’s sister organisation, the National Association of Estate Agents will be following suit with a similar scheme later this year.

It surprises me that this sort of scheme wasn’t already in place. After all, all tennants should expect a professional service and have efficient access to remedies if things go wrong.