ARLA calls for regulation among buy to let mortgage holders

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ARLA calls for regulation among buy to let mortgage holders

Buy to let mortgage holders could be facing further regulation if calls from the Association of Residential Letting Agents (ARLA) are heeded.

Ian Potter, operations manager of the ARLA, commented in response to the Consumer Focus recommendations and stated that the organisation has long campaigned for better regulations and has already introduced a licensing scheme for its members.

"The most important step in renting - or letting - any property is to thoroughly research local letting agents and fully understand the market context," Mr Potter stated

He added that it is only by taking these steps at the outset that both a tenant and the landlord can be certain they are properly protected.

ARLA recently reminded prospective tenants to be careful when dealing with lettings websites, as many illegal sites, which carry out a practice known as 'scraping', have been set up with the aim of convincing consumers to hand over their deposits.

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