A new government scheme has been put into place to protect tenants from dishonest landlords and fraudulent agents.
Susan Hind Director of Bespoke Lettings, explains that as a result of the measurements that were introduced on October 1, all letting agents must join one of three ombudsman-style schemes – Property Ombudsman, Property Redress Scheme or Ombudsman Services Property.
The strict approach aims to minimise the risks for tenants, whereby agents who commit misconduct will be legally expelled and compensation will be awarded to the victims.
Susan said:
“For too long tenants have been exposed to suspect agents, unnecessary high fees and unfair treatment. However, due to the regulation that has come into force, consumer protection has been drastically increased – this certainly is a breakthrough for tenants.”
“Due to growing size of the North West’s private rented sector, it is essential that tenants must feel safeguarded. As an independent lettings and property firm, we have welcomed the new guidelines with open arms.”
According to a recent national survey, in England alone there are approximately 3.8million privately rented homes, which is the equivalent to 16.5 per cent of all households. As house prices and mortgage rates are set to increase, it is estimated that the rental market will continue to grow significantly.
Susan added:
“Not only are we able to offer enhanced protection to our clients, they will also receive a piece of mind when it comes to renting a property. By adhering to the new policy, we will continue to provide comprehensive care surrounding service, property repairs and maintenance, as well as the swift return of deposits if tenancies should come to an end.”