An OFT report on the Private Rented Sector
February 16, 2013
The OFT report acknowledges that the Private Rented Sector is a significant part of the UK economy, but has stated that it generates a high level of complaints.
Due to the number of complaints it has received the OFT carried out a review of the Private Rented Sector and put forward ways that the issues that repeatedly appear could be tackled.
The OFT analysed around 4,000 complaints made the Consumer Direct about issues surrounding the Private Rented Sector and then produced an Intelligence Report, based on their findings. Their Intelligence Report found that the main areas of concern for tenants were the often high and unclear charges, false advertising, maintenance issues not being rectified and the non-refunding, or registering, of security deposits.
Landlord’s concerns focussed mainly on agents not doing what they had agreed upon in the contract and not passing on collected rent.
The report sets out the OFT’s views on why these problems may be occurring and how enforcers, industry, customers and the government can make a start on tackling them to make sure that the market starts working more effectively and provide the service tenants and landlords deserve.
The full report can be found here