The Royal Institution of Chartered Surveyors has been approved as part of the Dispute Service component of the Department for Communities and Local Government’s Tenancy Deposit Scheme.
Gillian Charlesworth, head of regulation policy at RICS, says: “RICS is delighted to be approved as part of Dispute Service component of the DCLG’s Tenancy Deposit Scheme, thus obtaining recognition of what we are already doing to protect clients’ money in the lettings sector.
“We have always supported the DCLG’s aim of extending tenancy deposit protection to the unregulated market.
“However, we have had to say to the department that the implementation process was not justified.
“The fact is that we have had to spend a great deal of time and money on obtaining a contract to do something we are already doing.
“We will be taking this up with the DCLG to achieve a more sensible approach in the future. Their approach can hardly be described as Better Regulation.”