Property Redress Scheme says redress for landlords should also include Rent to Rent firms

Earlier last month the Conservatives announced that all buy-to-let (BTL) landlords will be forced to register with a redress scheme, as is already compulsory for all letting and estate agents.  The Property Redress Scheme (PRS) says an introduction of this kind should also be extended to include Rent to Rent (R2R) firms.Rent to Rent companies operate by taking on a property from a landlord and in return offering them guaranteed fixed-rent for a set period of time. The landlord then gives consent to the R2R operator to let and manage the property, usually on a room by room basis, to other tenants, acting as a ‘middleman’ between the landlord and tenants living in the property.  Rent to Rent is most commonly on used in Houses of Multiple Occupation (HMOs) where ‘the Renter’ makes a profit from the shared accommodation model. However, the ‘Rent to Rent’ model does not fit the...
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New consumer redress scheme starts to receive complaints about property agent members

Press Notice 19th January 2015 London The Property Redress Scheme (PRS) is seeing an increasing number of consumer complaints being made against Lettings, Property Management and Estate Agent Members now that their Consumers are being made aware of their right to redress. The PRS is one of three consumer redress schemes authorised by the government whose role it is to provide fair and reasonable resolutions to disputes between members of the public and property agents. By law, all Agents, as defined by legislation, must be a member of one of these three schemes. The number of complaints raised with the PRS is increasing month on month. Of the complaints raised so far, 44% were by Landlords and 41% were by Tenants, with the remaining 15% being raised by Buyers and Sellers of property. The complaints have varied widely in content, with the top three grievances being unfair or excessive fees...
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Property Redress Scheme reaches 2,000 member milestone

The Property Redress Scheme (PRS) is pleased to announce it now has a membership of 2,000 individual Property Agents and Professionals.
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