Managing Agents Requirements
The private rented sector is the second largest tenure in England behind owner occupation. The growth of the sector has prompted an increased focus on management standards and on the activities of letting and managing agents.
There is currently no overarching statutory regulation of private sector letting or managing agents in England, although they are subject to consumer protection law and specific provisions in relation to the charging of fees and membership of redress schemes.
Read about the Tenant Fees Act 2019
You must join a redress scheme if you’re an estate agent, a letting agent or property manager in England or Wales. Failure to do so may result in fines of up to £5,000 and revocation of licences.