LETTING AGENTS – MAKE SURE YOU BELONG TO A CURRENT OMBUDSMAN SCHEME

4th August 2018 By

1st October 2014 – all letting agents and managing agents operating in England should have joined an Ombudsman Scheme or ceased trading as requred by the Enterprise and Regulatory Reform Act 2013.

There were 3 schemes to choose from;

6 August 2018 – ‘Ombudsman Services’ are ceasing to be a redress scheme for the purposes of the above Act.

Letting agents who are currently members of the Ombudsman Services scheme MUST make arrangements to join one of the other two schemes before 6 August 2018.

 

 

 

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FROM TODAY’S QUEEN’S SPEECH

21st June 2017 By

  • Security deposits will no longer be able to exceed the value of one month’s rent. Compared to the restriction which already applied of one sixth the annual rent (aka two months’).
  • Holding deposits will no longer be able to exceed one week’s rent.
    There will need to be a consultation so date for implementation ‘some time in the future’.

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