Letting and property managing agents trading standards information
There have been some new initiatives, recently, in the field of lettings and property management. Some relate to changes in the law and others to new guidance issued by government departments.
Trading standards have produced this page, which is designed to complement our advice and visits to businesses by drawing together current published advice materials. The information should also be useful to tenants in the private rented sector.
Joining a redress scheme
From 1 October 2014 letting and property management agents are required to join a tenant's redress scheme. This is similar to the scheme already in place for estate agents. The scheme enables an approved third party to arbitrate disputes between agents and tenants.
Agents who fail to join a scheme face a penalty of up to £5,000.
The Department for Communities and Local Government (DCLG) is leading on introducing new legislation.
Read DCLG guidance about the new legislation (pdf)
The following organisations were recently approved for that purpose:
The DCLG has drafted legislation, which makes joining one of these schemes compulsory. To read the legislation click on the link below:
The DCLG have also produced information for tenants and landlords that you may find of interest. Please click on the links below:
Ensuring clients are aware of your fees
Following a complaint to the Advertising Standards Authority (ASA),guidance was issued in November 2013 on how agents should clearly advertise their fees.
In their Guidance for Lettings Professionals the Competition and Markets Authority (CMA) has provided further detail on how information on fees should be presented.
The pending Consumer Rights Bill is proposing a statutory duty for fees and charges to be displayed on business premises and websites. Click below for links to the documents mentioned above.
- Advertising Standards Authority lettings ruling
- Competition and Markets Authority Guidance
- Consumer Rights Bill Section 81 onwards
Advice on consumer protection laws
Here are some links to published guidance covering fair trading and fair contract terms
- CMA Guidance for Lettings Professionals (pdf)
- CMA Key Principles for Lettings Professionals (pdf)
- Guidance on Unfair Terms in Tenancy Agreements (pdf)
Tenancy deposits
There is some useful information on the website of the charity Shelter.
Model agreement for a shorthold assured tenancy
The DCLG has produced a model agreement for use by landlords and agents.
For further information please contact the Trading Standards team:
020 8753 1081
trading.standards@lbhf.gov.uk