An estate agent in London has been fined £4,000 for not displaying both details of its Client Money Protection scheme or accurate details of the fees it charges tenants and landlords.
Atco Estates on Green Lane in Dagenham was advised two years ago by local Trading Standards officers about displaying accurate details of its tenant and landlord fees.
But during a check by in May 2017 it was discovered its website still listed inaccurate fees information. Enforcement action followed and the fine was issued by a third-tier tribunal.
Details of the fine have taken so long to be published because Atco Estates appealed the initial decision.
The company claimed it had published the correct information and that it could not afford the fine. This appeal has now been dismissed by the tribunal.
“We won’t allow businesses who do not play by the rules to get away with it,” says Barking & Dagenham councillor Margaret Mullane (left).
“If you want to be a letting agent in Barking and Dagenham, the message is crystal clear: you must comply with the law. We will continue to clamp down on rogue letting agents.”
Atco Estates, which has been trading since 2012 and appears to specialise in lettings, has four homes listed for sale and 36 rental properties.
The company has now updated its fees list. It charges a £450 holding deposit to prospective tenants, a £60 call-out charge to fix faults cause by a tenant and £100 to renew a tenancy, among others.