A letting agent with offices in Harrogate and Wetherby has become one of the first members of what has been called a ground breaking client money protection scheme. The letting agent, Linley & Simpson, who find tenants for properties which are protected by buy to let property insurance, have also played a key role in the creation of the scheme.
The SAFE agent kite mark has been awarded to branches of Linley & Simpson at both Harrogate and Wetherby and has been launched with the tagline of “By the industry, for the industry” with the ultimate aim of helping landlords and tenants avoid the risk of falling victim to fraud. The idea was devised and developed by some of the leading players in the private renting sector after a Coalition U-turn on their long awaited plans to regulate the industry. The need for the scheme was illustrated by research carried out by homeless charity Shelter recently which showed that as many as one million private renters have fallen victim to scams in the last year. A number of theft cases involving unscrupulous agents has lead to the start of the kitemark scheme.
Will Linley, Director at Linley & Simpson, said “The initiative was a big step forward and we were delighted to be invited to share our views and be part of the small working group tasked with developing a solution to one of the most important concerns facing our industry. Nobody books a holiday with a travel agent who is not properly accredited and registered – but, as ever-increasing numbers are finding to their cost, this isn’t always the case in the rental market where the stakes are far higher.”
The kitemark will now make it much easier for both landlords and tenants to differentiate between the good and the bad among letting agents. Only those letting agents who can guarantee the safeguarding of clients money will be able to display it. Those who are not registered but who claim they are part of the scheme will be exposed. The SAFEagent scheme will be supported by the NALS (National Association of Letting Agents) and is the first step towards regulating itself. The kitemark will now start appearing at letting agents offices throughout the country.