Fees missing from a third of letting agent websites
Summary
New research into 400 lettings and property management websites in England found widespread gaps in fee disclosure and compliance information. More than a third of sites had no visible fees information, and many also failed to name a redress scheme or client money protection arrangement.
Why it matters
Letting agents are required to publish fees, VAT, redress scheme details and client money protection information, so omissions may indicate compliance weaknesses in the sector. Surveyors involved in lettings, management or agency oversight should be aware of these disclosure requirements and the potential enforcement risk.
Key points
- 34.5% of websites had no fees page, link or mention of fees.
- 37.8% did not show tenant or landlord fees with a pound amount and VAT included.
- 99 agents did not name a redress scheme and 123 named no client money protection scheme.
- Section 83 of the Consumer Rights Act 2015 requires fee and scheme information to be displayed.
- Local authorities can enforce breaches with penalties of up to £5,000 per breach.
Organisations:
ThemeSmith, The Negotiator
Regulations:
Consumer Rights Act 2015, section 83
Locations:
England
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