Lettings Agents Disclose or Go to Jail

sensitive and even unsavoury information – about properties will be stringently policed. This is because the old Property Misdescriptions Act, which applied only to sales agents, has been done away with, leaving a regime that applies equally to both letting and sales agents.

The Consumer Protection from Unfair Trading Regulations 2008 may not be new, but agents’ duties under them are now set to be much more rigorously monitored. This is criminal legislation, and breaches could result in unlimited fines and prison sentences.

If a murder has been committed in a rental flat or someone has committed suicide there, or if a convicted paedophile has lived there – these should all be disclosed before a property is even viewed, say some industry experts. All are agreed that routine disclosures, such as noisy neighbours or proximity to a pub, must be flagged up at the earliest opportunity.

Furthermore, the regulations make a landlord jointly responsible with the letting agent for accuracy of descriptions, and making sure nothing material is omitted. The story was covered yesterday on our sister site Estate Agent Today and attracted considerable attention.

http://www.estateagenttoday.co.uk/news_features/Lawyers-could-have-field-day-over-agents-duties-to-disclose-property-information

– See more at: http://www.lettingagenttoday.co.uk/news_features/Letting-agents-warned-to-take-disclosure-duties-seriously-or-risk-jail#sthash.vGjiHPT8.dpuf

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