Landlords alerted to unlicensed agent danger
Unlicensed agents can spell trouble for landlords with insurance for rental property and their tenants.
At best unlicensed agents can be unreliable – at worst they cause huge financial problems triggering more than just a headache for those involved.
As he warned of the dangers posed by unlicensed agents, Operations Manager for The Association of Residential Lettings Agents Ian Potter said: “The threat posed by unlicensed agents grows more pressing as the market expands, placing both landlords and tenants at increased risk of financial loss.
“Until that time as the Government steps in to regulate, our advice to anyone looking to rent a property would be to use an ARLA-licensed lettings agent to ensure they’re protected against unethical agents.
“It was only last week that an agent in the East Midlands was reported to have disappeared with client funds. This type of behaviour cannot and must not be tolerated.”
Steering clear of unlicensed agents is just one of a number of issues landlords must consider when deciding to rent out property.
Taking out the right level of landlord insurance is just one way property owners can protect their investment.