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OFT proposals to tackle problems in lettings market

Posted: 19th March 2013   In: Commercial Property

The Office of Fair Trading (OFT) has put forward a set of proposals to tackle issues causing concern to both tenants and landlords in the lettings market.

The OFT says it analysed 4,000 complaints from across the spectrum and found that tenants and landlords were often unhappy about fees charged by agents, the poor service provided and surprise charges that were introduced once contracts had been signed.

OFT officials have now put forward recommendations designed to make the market work better for all concerned. The recommendations include:

An OFT spokesman said: “Our findings show that tenants and landlords are often dissatisfied with their agents but we also know that most agents want to do the right thing.

“This report sets out our view on what improvements could be made to address concerns with this market and we are keen to play our part in bringing together those involved in the lettings industry to focus efforts where they are most needed.”

Please contact Hugh Beeley about the issues raised in this article or any aspect of commercial property law.

Posted by: Hugh Beeley
Commercial Property
Luton Office