This article by the Property Wire on September 10th, 2013 reveals information relating to non refundable fees and tenancy charges in the UK's residential lettings must now be displayed prominently on marketing and advertising material.
The Committee of Advertising Practice has published new advice which
it has sent to all relevant trade bodies across the lettings sector
following an Advertising Standards Authority ruling published in March
2013 in which it ruled against a letting agent which had not provided
sufficient information about their fees in their online ads.
Residential
lettings agents must now make changes to their websites and adverts
placed on property portals and in other media and have until 01 November
to do so.
‘We’ll be closely monitoring ads in all media from
November onwards and will consider appropriate follow up action against
non-compliant ads from this date,’ said the CAP.
The guidance
comes after the CAP worked closely with bodies such as the Association
of Residential Lettings Agents (ARLA) and The Property Ombudsman (TPO)
as well as letting agents and private landlords to draw up the new
requirements.
CAP has also published a new AdviceOnline,
Compulsory costs and charges: Letting agents, for marketers to ensure
that they comply with the rules.
Commenting on the CAP guidance,
Caroline Kenny of the UK Association of Lettings Agents, said it should
provide more clarity to letting agents on how to comply with the ASA
ruling in March. ‘We have worked closely and consistently with the CAP
and other industry colleagues since the ruling to ensure that any
subsequent guidance is as clear and unambiguous as possible for letting
agents to adhere to and it is encouraging to see that additional in
depth advice regarding compliance,’ she pointed out.
‘We encourage all letting agents to review their property listings
across all media platforms before the November compliance deadline in
order to ensure they fall in line with the CAP’s guidance,’ she added.
The
ASA ruling in March related to property firm Your-move.co.uk Limited
which was told to ensure that their adverts make clear when non-optional
fees and charges, that could not be calculated in advance, were
excluded from quoted prices, and to provide enough information to allow
the consumer to establish easily how further charges would be
calculated.
The Royal Institution of Chartered Surveyors (RIVS) is also encouraging
its members to familiarize themselves with the CAP guidance and to take
action to ensure their businesses are compliant with the new
requirements.
It pointed out that the CAP guidance articulates
what compliance looks like for adverts in different media, with further
help and advice available via the CAP copy advice team.
Article Source: http://www.propertywire.com/news/europe/uk-rental-property-guidance-201309118223.html
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