The Scottish Governments new legislation requiring all persons or businesses managing any Scottish residential property on behalf of another person to apply for representation on the new letting agent register which comes into play on the 31st of January 2018.
What will be required?
- They must hold clients funds in a dedicated client based account.
- They must adhere to the new code of practice and behave in a professional manner.
- They must hold client money protection and professional indemnity insurance.
- Key members of staff must hold relevant professional qualifications.
The Property Store have had voluntary membership of accreditation schemes for many years and adhered to their good practice. As responsible training led employers, we have invested heavily in training which passes the levels set by the code of practice as we believe all our staff should be working to deliver exceptional service at all times.
Our clients funds have been treated properly since we started trading 18 years ago and we have always held professional indemnity insurance.
We consider that we are well positioned to meet the new challenges facing agents to the benefit of our clients and welcome the Scottish Governments steps to rid our industry of 'Rogue Agents' and unscrupulous practices.