LETTING AGENTS – PROPERTY REDRESS SCHEME
From the 1st October 2014 all Letting Agents must be members of a Property Redress Scheme which gives landlords and tenants a cost free method of taking action against an Agent if they are dissatisfied with their services.
Letting Agents MUST be members of one of the three Government approved schemes.
If a letting agent fails to join one of these schemes the local authority, wherever they are based, has the power to enforce and issue a mandatory £5,000 fine. If an agent persists on not paying then the local authorities can continue to fine them before seeking an injunction to close the agent down.
Please note that this legislation applies to formal Letting Agents, informal Letting Agents, those who source properties or sub-let properties to tenants through services such as Rent-to-Rent schemes or similar.
The three Government Schemes are:
More information is available on the Government portal GOV.UK
Note: For Letting Agents that are members of the Midland Landlord Accreditation Scheme there are requirements for MLAS Accredited Letting Agents. Visit MLAS for further information.
The Sandwell Bugle – the e-magazine for Landlords across the Sandwell MBC area – is available to download by clicking on the link below.
In the future, the Bugle is moving to an online Landlord blog – so Sandwell Landlords should keep an eye on their email for further information.
You can also follow Sandwell Private Sector Housing Team on Twitter: @SMBCenvhealth
Read This First! Homestamp’s Comprehensive Guide to Renting Property!
If you are looking to rent property from a private landlord – don’t forget to use Read This First.
Homestamp’s comprehensive guide to renting property includes advice on on both landlord and tenants rights, private renting in general, housing benefit, tenancy deposit schemes, crime and fire safety advice, plus much much more.
Read This First 2014 has been updated to include the latest information – especially on welfare and benefits changes, finance and illegal money lending advice.
Also available to download is the Read This First 2014 ‘Important Checklists’. This way you can keep a record of properties you have looked at and use the checklist in helping you reach a decision!!!