This latest report which analyses this hugely influential sector, which is growing rapidly, has raised a number of interesting recommendations. Firstly, the review identified the best possible way to protect the interests of consumers within the private rental sector is through balanced self-regulation.

It also identified the need for a single ‘Smart’ Code for lettings and management agents to abide by. NALS has clearly defined accreditation criteria underpinned by independent redress through adjudication by the Ombudsman for Estate Agency Scheme which offers a clear and quick route for the consumer to have any grievances dealt with through independent redress.

In addition, the report highlighted the importance of the work of Local Authorities in the area of accreditation of landlords. We work with a number of Local Authorities throughout the UK to ensure that agents are signing up to accreditation schemes. The report also recognised the need for the cost of compliance to be reasonable and proportionate. This is of paramount importance to us and for that reason we offer a low cost option for firms to become compliant.

Interestingly, the Law Commission suggested that a stakeholder board be created to work across the sector, a concept which we believe could add real value to the industry. However, to fully protect the interests of the consumer this would need to be a truly independent board.

The various reports have highlighted some pertinent issues facing the sector and we now await with interest the outcome of the Rugg Review in October. This year has certainly provided food for thought and what is now needed is some considered action.