Displaying Fees and Legal Compliancy

Posted on Thursday, May 21, 2015

Displaying Fees and Legal Compliancy 

From 27 May 2015 all lettings agents in England will be required by law to display details of their fees and charges on both their websites and in their offices. 

Previously, only tenant fees were required to be displayed.

Agents also need to display whether or not they are a member of a client money protection scheme and which redress scheme they have joined. If you are not registered with a redress scheme, you must also display this.

All fees, charges or penalties which are payable to the agent by both landlords and tenants for letting agency and/or property management work which is carried out by the agent in connection with an assured tenancy need to be displayed.

This includes any additional fees, charges or penalties which may be incurred during a tenancy as well as fees, charges and penalties which are referenced in Tenancy Agreements and in Terms of Business.

Fees should be displayed including VAT. 

With a £5,000 fine for non-compliance and the risk of competitors taking advantage of any shortfalls in your legal standing, making sure you are within the law makes sound financial sense.

If you need to add Landlord fees or any other information to your website, please contact our maintenance team at maintenance@thepropertyjungle.com and we’ll be happy to help.

For further information regarding displaying fees and compliancy, please visit http://www.arla.co.uk/media/1042999/guidance-for-fees-and-charges-display-template-final.pdf

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