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News'Greater regulation needed' in the buy-to-let sector
'Greater regulation needed' in the buy-to-let sector
Posted by Chris Stevenson
Greater regulation needs to be introduced into the buy-to-let sector to make landlord and tenant disagreements easier to deal with, it has been suggested.
Roger Southam, chairman and chief executive of Chainbow - which focuses on managing residential developments on behalf of others - said it is "appalling" that the government is not enforcing tighter controls in this area.
The industry figure noted that at present, anybody can become a letting or block manager without having any form of qualification.
He suggested the government takes a hard line and decides that a person cannot take another individual's money unless they are assigned to a certain body and have client money protection.
"And then in one fell swoop, you've certainly made it easier to know where the cowboys are," Mr Southam added.
His comments come after Chris Horne, editor at Property Hawk, recently suggested demand for homes to let in the UK will continue to escalate in the months to come, with supply failing to keep pace.
22/07/2011 16:28
News category: Property