Our blog headed 'Letting Agent Registration' (Less than) A Year To Go!' discussed the forthcoming requirements for letting agent registration following the enactment of the Letting Agent Registration (Scotland) Regulations 2016.
Anticipated Scottish Government guidance on letting agent registration has since been published and can be found here.
The guidance provides information on:
- who needs to register
- what you need to do before you register
- what training and qualifications you must have in place before you make your application
- guidance on protecting client money as well as your requirement to obtain professional indemnity insurance.
Anyone carrying out letting agency work in Scotland should carefully consider this guidance together with the Letting Agent Code of Practice to ensure preparations for compliance with the code and registration are completed in advance of the deadlines noted below.
Deadlines
The relevant deadlines for the purposes of the changes are as follows:
- Letting Agent Code of Practice
The Letting Agent Code of Practice comes into force on 31st January 2018. Letting Agents must ensure they are meeting the requirements of the Code from this date. If you fail to do so, an application could be made against you to the First-Tier Tribunal (Housing and Property Chamber) and orders could be granted against you for breach of the Code.
- Letting Agent Registration
The deadline for submitting your application for registration is 30th September 2018. The guidance indicates the register will commence accepting applications from early 2018. Failure to submit an application by this deadline is a criminal offence comprising a fine of up to £50,000 or up to 6 months imprisonment or both.
If you require advice on compliance with the code and/or applications for registration please get in touch with our LetLaw team.
