Estate agency told to remove ‘rent guarantee’ claims from website

A sales and lettings agency that advertised a rent guarantee service to landlords on its website has had a complaint about its claims upheld by the Advertising Standards Authority (ASA). The ruling means agents who advertise ‘rent guarantees’ must be much clearer about the service they offer if they want to avoid being referred to the ASA. London two-branch sales and lettings agency www.victoriaknight.co.uk, which is owned by Smartinvest Capital Ltd, published an advert on its website offering “the assurance of a fixed monthly rental income without all the hassles involve in being a landlord”. “Find out more about our Rent Guarantee service and the terms and conditions” the ad went on to say. Someone complained to the ASA, challenging whether the claims within the ad were misleading because they suggested rent would be guaranteed in all circumstances, and did not make clear the limitations that applied to the service. Sub-letting In its response to the ASA, SmartinInvest explained that it in effect became the tenant of the property and sub-let it and that landlords saw the full terms and conditions of the deal before signing up. It also said that landlords were covered by insurance that guaranteed rent and…