New protection for tenants and landlords

Letting agents are now required to publish full details of the fees they charge. In addition, agents are also obliged to state whether or not they are a member of a client protection scheme and which redress scheme they are signed up to. The new legislation contained within the Consumer Rights Act 2015 came into force last week and is designed to ensure a fair deal for landlords and tenants, closing off the opportunity for a small minority of rogue agents to impose unreasonable, hidden charges. All letting agents are now required to publish a full tariff of their fees – both on their websites and prominently in their offices. Anyone who does not comply with these new rules will face a major fine. David Cox (left), Managing Director, Association of Residential Letting Agents, said, “Relevant information should be placed prominently in offices where letting agents have face to face contact with clients, as well as on their websites. Any costs to landlords and tenants must be clearly defined and comprehensively outlined, including all fees, charges and penalties that may be charged before, during and after a tenancy.” Meanwhile, more than 3,000 professional lettings agent across the UK have joined…

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