May 14, 2014 Leave a Comment
As PRSupdate reported last week, Labour tabled an amendment to the Consumer Rights Bill that would have banned letting agents from charging fees to tenants.
But, after much debate, the motion was defeated in the House of Commons by 53 votes.
Hours prior to the vote the Government had announced it would put forward its own amendment to the Consumer Rights Bill. Details of the Government’s proposed amendment have not been fully revealed, as it has yet to be tabled, although it is known that it will compel letting agents to publish all of their fees on their websites and prominently in their offices.
The requirement would goes a step beyond the current Advertising Standards Authority (ASA) recommendations, including the ability to fine any agents who fail to comply.
The Government said it would plan to monitor the regime for a year and ‘put the industry on notice’ that it would be ready to consider further steps if it deemed necessary.
Young London, Young Group’s operational business, is fully prepared if these new proposals come into force as it already displays all fees on the its website and provides them to every applicant as part of their viewing pack.