Principle welcomes new steering group to protect residential property consumers

The launch of a new independent steering group to raise standards and protect consumers in the residential property market has been welcomed by Principle Estate Management.

Baroness Dianne Hayter has been named chair of the steering group, set up in the wake of Lord Richard Best’s ‘Regulation of Property Agents Working Group’ report.

The new steering group will work to develop an overarching code, new regulator and mandatory qualifications that will raise standards for property agents.

Brett Williams, managing director of Principle, knows Lord Best as a former client and worked with Baroness Hayter when he was chairman of the Association of Residential Managing Agents.

Mr Williams said: “Principle welcomes the setting up of this steering group following Lord Best’s report because we fully back the raising of standards to protect consumers.”

The steering group has been set up by the Royal Institution of Chartered Surveyors and The Property Ombudsman Service and is part of a combined drive by government and property professionals to make positive change for consumers’ dealings with residential agents.

Mr Williams continued: “I hold both Lord Best and Baroness Hayter in the highest regard and feel that both are perfect for this ongoing review.

“There are huge responsibilities for all forms of managing agent, including the selling and letting agents and block managers, who are so involved with so many of what are often people’s biggest assets.

“Whether they are investors or owner-occupiers or tenants these are people’s homes, and as consumers, they deserve the highest standards and should be able to expect their rights to be protected.

“Principle is all about doing property management properly, and so we are keen to help in whatever way we can.”

Mr Williams added: “We’ve all been somewhat ‘trapped’ in our homes so much more during lockdown, so it’s a good time to concentrate on those people with responsibility for looking after so many people’s homes.”