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Three Compulsory Redress Schemes Approved by Government

April 24, 2014 | Landlord News  

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Under new plans announced by housing minister Kris Hopkins, all letting and property management agents in the UK will have to join one of three government-approved redress schemes. This means greater protection for tenants and lease holders.

The approved schemes are: The Property Ombudsman, The Property Redress Scheme, and Ombudsman Services Property. They will independently investigate complaints about hidden fees or poor service. Tenants and lease holders could receive compensation if a complaint is upheld.

Although the majority of letting agents are already signed up to one of the three, there are still some 3,000 that are not held accountable – roughly 40% of the entire industry. These will be encouraged to join immediately, before it becomes a legal requirement later this year.

Kris Hopkins said, “All tenants and lease holders have a right to fair and transparent treatment from their letting agent. Most are happy with the service they receive, but a small minority of agents are ripping people off, and giving the whole industry a bad name.

“That’s why we will require all agents to belong to one of the official redress schemes. They will ensure tenants have a straightforward route to take action if they get a poor deal, while avoiding excessive red tape that would push up rents and reduce choice for tenants.”let-leeds-landlord-news-three-compulsory-redress-schemes-approved-by-government

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