Lettings and Property Redress Scheme for Agents
1st September 2014
As of 1st October 2014 it became a legal requirement for all lettings agents and property managers in England to join a government approved redress scheme. This scheme in effect will make it easier for tenants, prospective tenants, landlords dealing with letting agents in the private rented sector and leaseholders dealing with property mamangers in the residential sector to complain abour bad service.
The benefit of this scheme is that parties can come to an arrangement quickly stopping disputes from escalating. Managers and agents must belong to one of three schemes or face over a £5000 penalty.