Redress Scheme Regulation In Force
Posted : 14/12/2018
It is a legal requirement for all lettings agents and property managers in England to belong to a Government approved redress scheme from 1st October 2014.
The purpose of this regulation is so to protect tenants and landlords who are experiencing bad treatment or subjected to poor practices by letting agencies by providing them with an effective mechanism for complaints with an approved redress company.
The requirements will be enforced by the local authority who will be looking to contact those who have not yet signed up / registered with a redress scheme and advise them to do so. The local authority can impose a fine of £5,000 to letting agencies that have not yet signed up with a scheme.
Please see the link attached for guidance on who this legislation applies to. It offers common guidance on who falls under the remit of this legislation but it is not exhaustive of all scenarios and it is advisable to read the legislation if your circumstances are not covered by the guide.
guidance can be found:-
https://www.gov.uk/government/publications/lettings-agents-and-property-managers-redress-schemes
Redress schemes available:
http://www.tpos.co.uk/index.php
https://www.theprs.co.uk/Home/Index
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