In broad terms the forthcoming introduction of The Letting Agent Registration (Scotland) Regulations 2016 constitutes great news for landlords. The new provisions should raise standards within the sector via the mix of a new mandatory code of practice, minimum qualification requirements and mandatory registration.
However, not everyone may cheer as some caution is needed in the scenario that a landlord has a friend, contact or family member helping with the operation of a rented property. In some, but not all, circumstances such an arrangement would constitute letting agency work and the need for registration would apply.
Undertaking letting agency work without the requisite registration will be a criminal offence, with scope for both financial penalty and imprisonment.
Against this backdrop there is clearly advantage to any landlord who calls upon another to assist with the running of a rental property to be aware of these new requirements ahead of their introduction. A quick check at early stage would allow alternate arrangements to be made or confirmation to be drawn that the status quo can be legitimately maintained.
Further details on who needs to register may be checked at: www.mygov.scot