Letting Agents Fees Need to be Publicised
In line with the previous government’s aim to make consumers better informed and better protected when buying goods and services a provision has been inserted in the Consumer Rights Act 2015 requiring letting agents to publicise their fees. The aim is to inform and protect both landlords and tenants.
The new law comes into effect on 27 May 2015 and requires letting agents to publicise prominently in their office and on their website a full list of their fees; whether or not they are a member of a client protection scheme; and which redress scheme they have joined.
If letting agents fail to comply with this new law, enforcement will the task of Trading Standards departments and the maximum fine is £5,000