The guide follows the 2013 report by the Office of Fair Trading (OFT) which looked at the lettings market in detail. Concerns were raised over a number of practices deemed unsatisfactorily affecting tenants, including:
It highlighted that improvements could be made to the way the lettings market works if greater compliance with existing legislation was adopted.
The published guide follows feedback from the lettings industry and trading standards to help lettings professionals understand their responsibilities under these regulations.
The guide covers practical advice such as:
The guide aims to complement new and existing industry schemes and codes of conduct, and applies to lettings professionals in England, Wales, Scotland and Northern Ireland, addressing national variations in legislation.
For further information click here.
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There is now more legislation and regulation than ever for private landlords. Here's some more information on the Localism Act and your roles and responsibilities.
As the financial year comes to an end and the dust settles on George Osborne’s fifth budget, many professionals will be anticipating financial changes coming in to play in April that will have an impact on their business.