Press Release 26 May 2015

Letting agents in County Durham are being advised of changes to the law relating to the information they must provide.

From Wednesday (27 May) details of any fees and charges must be clearly displayed at the agents’ premises where they conduct their business.

These details must also be easily found on their website, if they have one.

Agents must also state whether or not they are a member of a clients’ money protection scheme and, if they are, the name of the redress scheme they belong to.

Fees include any fees, charges or penalties which a landlord or tenant pays to the agent in relation to letting agency work, property management work or in connection with an assured tenancy or a house let under an assured tenancy.

A requirement was introduced in October 2014 specifying that anyone involved in letting agent and property management business activities must belong to a government approved redress scheme.

Durham County Council’s fair trading team is encouraging businesses in the county to make sure they are familiar with the new legislation and to comply with the requirements.

Businesses who do not comply could be handed a penalty notice of up to £5,000 for failing to meet their legal obligations.

Joanne Waller, head of environment, health and consumer protection, Durham County Council, said: “These new requirements will bring greater transparency of any fees and penalty charges faced by prospective tenants or landlords and should result in greater competition between agents.”

For further information visit https://www.gov.uk/government/publications/lettings-agents-and-property-managers-redress-schemes

 

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-New Rules for Letting Agents