Lettings agents and property managers: register with a government-backed redress scheme or face a £5,000 fine
As of 1 October last year it is now compulsory for lettings agents and property managers to sign up with one of three schemes that provides tenants and landlords with an independent person to raise complaints with if an impasse has been reached with their letting agent or property manager.
In Hackney, 220 such lettings agents and property managers affected by the change in the law have signed up so far after Council Trading Standards officers wrote to them at the end of last year, with visits being arranged for 20 or so remaining agents.
However, it is thought there are individuals or small businesses working in lettings who are not aware that the legislation applies to them, and that they still need to register with one of the following schemes:
For those unsure if they meet the criteria for being a lettings agent or property manager, please see the letting agents and property managers redress scheme leaflet.
Tenants or landlords wishing to make a complaint about a lettings agent or property manager should follow the guidance on one of the three websites above. If an agent is not registered with any scheme, please contact the Councils Trading Standards department on 020 8356 4929 or email@example.com
It’s a legal requirement for lettings agents and property managers to sign up with these schemes, and while many have so far there is no excuse for not finding out if the legislation applies to you or not. We are committed to ensuring that all letting agents in the borough comply and will take action if they do not. It’s only right that both tenants and landlords should have an independent person to go to if things don’t work out.