The Association of Residential Letting Agents (ARLA) has produced a leaflet, ARLA And Your Money, to highlight the differences between fully bonded and unsafe letting in a bid to protect landlords and their tenants.
Adrian Turner, chief executive of ARLA, said: ‘The leaflet has been produced with existing landlords, investor landlords and their tenants in mind. It shows how to protect rents and management floats held for landlords and the deposits held on behalf of tenants. These sums of money are often large and must be kept safe from misuse or theft.
‘Both landlords and tenants often end up in the hands of rogue agents and others, whose systems of control and accountability would prohibit them being accepted for ARLA membership. These unregulated agents often have no experience or qualifications and they can be dishonest.’