House of Lords launches agency regulation inquiry

Peers in the House of Lords have launched an inquiry into agency regulation.

The House of Lords Industry and Regulators Committee will start a short inquiry this week that will explore regulation of property agents.

Its initial meetings will hear from representative of tenants and leaseholders.

The inquiry will examine the current approach to regulation of property agents in the residential sector, and in particular whether there should be a new regulator of property agents, the committee said in a statement.

Conor O’Shea, policy and public affairs manager for Generation Rent will give evidence on Tuesday 27 February at 1030 and Sebastian O’Kelly, chief executive of the Leasehold Knowledge Partnership will follow at 1130.

There will be at least two more sessions, with the speakers still to be confirmed.

It comes after Labour Shadow Housing Minister Matthew Pennycook attempted to get long-awaited Regulation of Property Agents (ROPA) rules legislated for as part of an amendment to the Leasehold and Freehold Reform Bill.

Lord Best’s ROPA working party recommended a new industry regulator and code of practice, compulsory training and licensing, and significantly beefed up enforcement for the agency sector in 2019.

The Government has previously said it is committed to introducing these rules but little has happened since.

https://committees.parliament.uk/event/20763/formal-meeting-oral-evidence-session/