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All London Boroughs Sign Up For Rogue Agent Database – What Impact On Market

 
 
 
 
  03 Jul 2018

Given the competitive nature of the London letting market, it is no surprise that many people are drawn to the market. Being a landlord is challenging but with so many people seeking rental property, there is an opportunity to generate positive income, if you operate in the correct manner. However, the income possibilities in the London lettings market sadly attract many people who don’t provide the best standard of service. This is an issue for tenants, but rogue landlords also negatively impact on other landlords and the lettings market.

Therefore, there is a general level of positivity in the lettings market with respect to the news that all London boroughs are now signed up for the “Rogue Landlord and Agent Checker” database. This database is located on the City Hall website and while it has been operating since December of 2017, it is only now that every borough is involved with the process. This is positive news because it helps to create a more complete image of the London rental market.

Tenants are using the database to make informed decisions

The two main ways that tenants are using the database is to:

  1. Check if letting agents or landlords hold any convictions relating to housing offences
  2. Report an issue with an agent or landlord through the “Report A Rogue” tool

Both aspects are very important. Tenants want to be confident about a landlord or agent before they move into the property and the database provides a quick and effortless way to review the landlord and determine if they have a track record that would cause concern. It is also important that tenants feel as though they can raise complaints about agents or landlords if required, so this tool is of great benefit.

While the initial impact of the database will be felt by tenants, in the longer-term, the database will benefit landlords too. If tenants are confident about their options, they will be more likely to let, and they may even be happier to let at a higher price. Also, if it is now easier for tenants to find (and avoid) rogue landlords, it should mean that landlords who provide a reliable service and have never been in trouble before should receive more interest or custom.

Limiting the reach of rogue agents will benefit the industry

There is no denying that some reputable landlords will have lost out on tenants due to rogue agents undercutting them on price. Agents who don’t comply with the regulations or adhere to the expected standards often save money when caring for their property, and this allows them to charge a lower rent while still making a profit. With these rogue agents being highlighted through the database, it can only be hoped that they will not operate, connecting tenants with more dependable landlords.

You cannot blame tenants for looking for the most affordable option, but this database allows them to make a more informed choice about a landlord. Saving a small amount of money each month is important but if the agent has a reputation and convictions for housing offences, this isn’t a cost saving that provides value.

At Jezzards, we aim to provide a reliable and dependable service to landlords in London. If you want to know more about the rogue agents’ database or you need support in providing the best standard of service to tenants, get in touch and we will be happy to help.


Author

Jezzards Estate Agents



 

 

Jezzards properties Hampton

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