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Letting agents 'may need to take company debt advice'

Date Added: 24/12/2010  

Letting agents have been predicted to be among the firms which need to take company debt advice over the course of the next year.

This is according to predictions for 2011 by the industry regulator the Association of Residential Letting Agents (Arla), which stated that demand for properties is expected to continue to exceed supply.

Ian Potter, operations director of Arla, explained that some letting agents are struggling to cope with financial struggles as a result of the recession - with company debt advice perhaps needed by some firms.

"We would urge landlords and tenants alike to only use an ARLA agent - our members are licensed, meaning client money is protected - and giving access to a redress scheme if things go wrong," he said.

Ian McCafferty, chief economic adviser at the Confederation of British Industry, recently suggested that some firms taking company debt advice could be set to struggle in 2011 as the pace of the UK's economic recovery is likely to slow due to a hike in VAT to 20 per cent.

Posted by Julie Cutts 

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