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Number of agents complying with redress awards drops by 12 percentage points

PRS annual report also reveals average award doubling last year and its membership increased by nearly a quarter.

Nigel Lewis

sean hooker material information redress

The percentage of decisions by the Property Redress Scheme (PRS) dropped from 90% to 78% during 2020, the government-approved scheme has revealed in its annual report.

This is down to the small number of ‘defaulting members’ being removed from the scheme for failing to comply with redress decisions, knowing their business is likely to shut-down soon anyway. One explanation of this is the increase in marginal estate agencies struggling during Covid, despite government support during Covid.

As in previous years, the vast majority of complaints remain generated by lettings (80%) with sales generating just 10% and property management another 10%.

Increased membership

The membership of the PRS increased by 24% from 12,043 members in 2019 to 14,932 members in 2020. The average number of complaints per member is 0.12, which was the same as in 2019.

Also, the average award made to complainants has also risen to £2,696, more than double last year’s average. But the scheme explained that it awarded just over £453,000 in total (26% less than in 2019) suggesting that a minority of agents were responsible for complaints and awards.

“Considering the difficult year that consumers and property professionals have faced, I am encouraged by the fact that only a small percentage of our membership experienced a complaint against them which shows that the majority of agents offer a good and personal service to their landlords and tenants,” says Sean Hooker, Head of Redress at the PRS (main pic).

“The scheme works hard to both educate and guide our members with an example being the launch of our tenancy mediation service during the height of the pandemic last year, helping to keep tenants in homes and landlords to balance their books.”

Read the PRS annual report in full.

July 13, 2021

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