The DCLG has confirmed, although not officially announced, that letting and managing agent redress schemes will come into force from 1 October. From that date all letting and managing agents, including long lease block managers, will need to be registered with one of the three approved schemes.
Some of the legislation is not yet finalised but it is available in draft form. The draft legislation makes clear that the penalty for non-registration is a non-criminal penalty notice to be issued by the local authority. This can be for a sum of up to £5,000. There is a right of appeal to the First Tier Tribunal.