TDS Boss Urges PRS to Self-Regulate

08 July 2012 Categories: News

TDS Boss Urges PRS to Self-Regulate

In a recent blog the chief executive of the Tenancy Deposit Scheme, Steve Harriott, blasted the government for their continued disinterest in the private rental sector, in terms of regulatory measures, and urged the members of the sector to unite and form their own self-regulatory organisation.

Harriott’s comments came after yet another letting agent – Wilmslow’s Spencer Knight – closed its doors last week without giving any form of notification to the tenants and landlords on its books. Hundreds of tenants are now left wondering whether their tenancy deposits were secured or whether they are to be left out of pocket with no way of reclaiming their money.

Harriott went on to say how he was sick of ‘crooked and inept’ letting agents getting nothing but a slap on the wrist and a fine that can, in most cases, be easily paid for potentially putting tenant lives at risk. He called for proper regulation of the private rental sector, and stated that is the government weren’t intending to impose regulatory measures then members of the PRS must band together and organise their own.

Whether anything will come of Mr Harriott’s comments remains to be seen.