Letting agents must publish certain information to clients. The information must be clear, not misleading and be visible to the eye in your office, on your website and on third party websites. Third party websites includes portals, social media and other websites. It may not always be possible to advertise all the details on social media, in this case a link to your fees on your website is acceptable. Below we’ve outlined what you must publish:
A Detailed Breakdown Of Fees/Charges
A detailed list of ALL your fees, charges and potential penalties must be published in your letting agency, on your website and on third party websites.
This must be clearly visible, not misleading, setting out your fees inclusive of VAT, in your office and on your website, the customer shouldn’t have to ask for the information.
On your website, the information must be together. Should it be on a separate page, this must be highlighted by making it clear the information is one click away. Should space be limited, information that the details can’t be included must also be stated.
From June 1st 2019, tenant fees will be banned so this information will not apply to tenants, acceptable charges and penalties will still need to be published.
Redress Scheme Membership
Agents must be registered with a redress scheme. Currently, agents can decide on two redress schemes to join, the Property Ombudsman and the Property Redress Scheme. This information must also remain visible and in the public eye in your office, on your website and on third party websites.
Client Money Protection Scheme
Information on your CMP scheme must be clearly displayed in your office, on your website and on third party websites. From April 1st 2019, CMP will become mandatory requiring agents to join a scheme.