Lettings disputes nearly double that of sales

October 20, 2015

The latest interim report released by The Property Ombudsman reveals more than half of the 9141 enquiries received related to lettings disputes, nearly double that of sales.

This not only reinforces the importance of legislation introduced a year ago, making it a legal requirements for all letting agents in England to register with an approved redress scheme, but has left Christopher Hamer, Property Ombudsman, calling for a Property Agents Act, he believes that current provisions do not go far enough in ensuring openness, disclosure and consistency for agents, tenants and landlords alike.

Mr Hamer explained “A Property Agents Act would update the Estate Agents Act 1979 to reflect developments in the sales market and most relevantly now, bring lettings into a precise framework where all agent activity is covered by one piece of legislation.” He has suggested licensing of agents, standardised tenancy agreements and compulsory client money protection could all be areas included in such an Act.

Full details re: Property Ombudsman latest interim report see website: https://www.tpos.co.uk/news-media-and-press-releases/press-releases/item/property-ombudsman-s-final-interim-report-calls-for-property-agents-act?category_id=25

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Building Buyer Trust Through Architectural Visualization in Real Estate Marketing

In real estate marketing, trust is not a soft value. It is a transaction driver. Buyers commit to years of financial exposure based on how credible a project feels long before it is built. That credibility is no longer shaped by brochures alone. Today, developers often work with a rendering agency to construct a visual…
Read More →
Crowded beaches - Clacton-on-Sea in Essex
Breaking News

£84.2bn in internationally owned homes across England

The latest market analysis by Jefferies London has found that the current market value of foreign-owned homes across England stands at an estimated £84.2bn, with London accounting for £43.9bn, the largest share of any region. Jefferies London analysed estimates of foreign homeownership across England, alongside average house price data, to calculate the estimated total market…
Read More →
Breaking News

Housing affordability improves across Britain

The latest research from Yopa has found that the average house price across Britain now sits at 8.3 times the typical annual salary, with affordability improving over the last year, driven by more measured house price appreciation and stronger earnings growth. This has helped to reduce the house price to income ratio across six out…
Read More →
Breaking News

Manchester tops list of Britain’s first‑time buyer hotspots

Manchester is the most popular location for first‑time buyers outside London First‑time buyers now account for around half of all mortgaged home purchases across Britain In the most popular areas, that rises to more than 70% Worcester is home to the fastest‑growing first‑time buyer market   New research from Lloyds reveals Britain’s hottest locations for…
Read More →
Breaking News

0% mortgages – are they too good to be true?

With the reintroduction of 0% mortgages, are they too good to be true? A property expert weighs in This morning, Melton Building Society announced that they’re now offering 0% mortgages to customers. However, are these too good to be true? The deal is a five-year fix at 5.99 per cent with a £199 application fee,…
Read More →
Estate Agent Talk

Property Auctions: What Buyers and Sellers Need to Know Before Taking the Plunge

As more homes are bought and sold via auction, consumers are being urged to fully understand the process so they can gain maximum benefit, according to Stuart Collar-Brown, President of NAVA Propertymark (National Association of Valuers and Auctioneers). Property auctions continue to grow in popularity, offering buyers speed and transparency and providing sellers with greater…
Read More →