During the visit to VTUK’s new offices Mr Cameron was introduced to the staff and took time to speak with everyone, to ascertain how the current market conditions were affecting their roles and the property industry in general.

Mr Cameron then spent almost an hour discussing how the combined effect of the credit crunch and the house price crisis was effecting the industry.

On behalf of several Clients, Peter Grant Managing Director of VTUK, raised the issue that many established agents were not at all benefiting from the perceived increase in the lettings market, but that conversely, as many former Estate Agents had branched into lettings and management there was now fierce competition for the available business.

VTUK’s Technical Director, Mr Darren Rockett advised that the downside to this appeared to be that many “new starts” did not have the funds to invest in adequate procedures and systems, let alone training and because each of these Companies were only dealing with very few managed properties, without overheads they were operating at unsustainable fees.

The worry was that many tenants, often those most vulnerable in the current climate were now living in accommodation not intended for letting, but placed on the market by unmotivated landlords who simply could not sell and were now being managed without compliance to many of the most basic regulations such as gas safety and the tenancy deposit scheme.

Mr Grant said, “We have been supplying systems to the property industry for 20 years this year and with over 1200 companies using our systems and approximately 350,000 properties under management, we are being sent a strong message that reputable agents want licensing now, via existing bodies and before a tragedy strikes.” He added, “Mr Cameron showed a fantastic grasp of the industry and an understanding of what is actually happening within lettings and management and surprised us all by his perceptiveness.”

Before leaving Mr Cameron advised that he would be raising this issue and that above all else protection must be afforded for the increasing numbers of people now living in rented accommodation.