CMA Guide for Lettings Professionals

29 Jun 2014

 

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:

  • Unfair and ‘surprise’ fees and charges
  • Poor service
  • Delayed and substandard repairs

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:

  • Ensuring tenants and the lettings agent’s landlord clients know what charges and fees they have to pay and what they’re for
  • Avoiding using misleading advertising or statements
  • Ensuring the tenant or landlord is given all the information they need, when appropriate
  • Providing clear information that the tenant needs to know before they move in (such as guarantor and deposit requirements, and the terms and conditions of the tenancy agreement)
  • Dealing fairly and professionally with tenants and landlords, and using fair contractual terms
  • Ensuring that services and repairs are carried out in a timely manner and with reasonable care and skill
  • Giving clear and full information to tenants about how to end a tenancy agreement

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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Jenny Jervis

Written by: Jenny Jervis, Marketing Manager at Endsleigh for the Landlord and Lettings market

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