The three government approved redress schemes; The Property Ombudsman (TPO), Ombudsman Services: Property and The Property Redress Scheme have today issued a revised version of their Memorandum of Understanding (MOU).
Guaranteed Rent, also known as Rent to Rent, is where an individual or company takes an interest in a property for a period of time from a landlord and guarantees to pay a fixed rent to the landlord.
Our most recent survey consulted letting agents on the potential effects of the proposed ban on agency fees. This ban is set to apply to any fees an agent charges to the tenant, typically for administration costs, referencing and background checks.
The working group investigating the demand for mandatory client money protection (CMP) has put forward their official recommendations to the Government strongly suggesting the introduction of compulsory CMP.
The Scottish Government, in conjunction with the Scottish Association of Landlords Council of Letting Agents, is holding a series of awareness raising events aimed at letting agents that will help you to get your business ready for registration.
Mandatory membership of a redress scheme came into force on 1 October 2014 requiring that letting agents and property managers join one of three Government-approved redress schemes. The Property Redress Scheme (PRS) joined the Ombudsman Service: Property and The Property Ombudsman in being authorised by the Government to ensure compliance with this regulation.
