Landlord Legislation - Redress Scheme

July 23, 2014Tags: Landlords | lettings | legislation
Landlord Legislation - Redress Scheme

The Government recently announced that all letting and property management agents will have to join an approved ‘redress scheme’ later this year.

While the majority of agents – including Your Move – already belong to an ombudsman, a startling 40% (3,000 agents) currently do not.

They will now have to join either The Property Ombudsman, Ombudsman Services Property or The Property Redress Scheme.

This gives all tenants and landlords the opportunity to complain to an independent third party if they feel they haven’t received a good service from their agent. It’s completely free of charge and if the complaint is upheld, compensation may be awarded.

Your Move was one of the founding members of The Property Ombudsman, so has already been part of this scheme for many years.

We hope this legislation will improve things for the tenants and landlords who use an agent that is not currently a member, but it’s going to take a while for thousands of letting agents to join and get used to the system.

As such, we always recommend landlords and tenants use agents that are members of ARLA or NALS, as both are members of an existing property ombudsman, are independently audited and offer what we consider to be essential insurance cover that protects all rents received by any branch.