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Protection guidance from CMA for the letting industry

CMA guidelines

The Competition and Market Authority has released a new protection guidance for lettings professionals to improve their understanding and compliance with consumer protection law.

The guidance provides standards over a number of issues that tenants and landlords can encounter.

The CMA has worked along with the trading standards services to agree on how the law should be applied and how to improve standards.

The new protection guidance includes the following:

• ensure that tenants and the lettings agent’s landlord clients know what charges and fees they will have to pay and what these are for

• avoid using misleading advertising or statements, and ensuring that the tenant or landlord is given all the information they need, at the appropriate time

• provide clear information before occupation such as guarantor and deposit requirements, and the terms and conditions of the tenancy agreement

• deal fairly and professionally with tenants and landlords, and using fair contractual terms

• ensure that services and repairs are carried out in a timely manner and with reasonable care and skill

• give clear and full information to tenants about how to end a tenancy agreement

The guidance is relevant to all professional lettings agents in the United Kingdom with the aim to suppress legal variations from one area to another.

Nisha Arora, CMA Senior Director, Consumer, said: “Renting a property is a big financial commitment, and it is important that tenants can be confident that their landlord or letting agent will treat them fairly. This guidance will help lettings professionals understand how to comply with the law and should ultimately improve overall standards in the market.”

Meanwhile the Department for Communities and Local Government has issued a checklist to successful renting for tenants.

The checklist is actually very close to our own Guide to your first student house.

Although this news is relevant to all professional lettings agents, we are already one step ahead at Mistoria, always making sure our student lettings are in line with legal and ethical standards and our student tenants feel safe and secure doing business with us.

Find out more about Mistoria and our student lettings by calling us on 0800 500 3015 or emailing info@mistoriaestateagents.co.uk.