Supervision and guidelines on landlords' responsibilities are "long overdue"and were lacking in the Queen's Speech in parliament today (November 18th), it has been suggested.

Reacting to the proposals, director of external affairs for the Royal Institution of Chartered Surveyors (Rics) Gillian Charlesworth said she was "disappointed"that the private rented sector was not addressed and that legislation was needed within this area.

"Now is the time to introduce measures, when many more people have to rely on private renting, both as individual landlords and tenants,"she explained.

Many landlords operate without the services of an estate agent and more than half of rental transactions, such as tenant deposits, could be unprotected and at risk. In total, as much as £12 billion could be held by agents and landlords in the private rented sector, according to predictions within the industry.

In October, it was revealed by Findaproperty.com that rental property stock fell by 10.2 per cent during the month, which represents the biggest drop since the index began.

Written by Sarah Field
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