Problems With Lettings On The Increase, Warn Leaders

During the second quarter of 2009, more than 110 people a week asked the Ombudsman for assistance with problems over lettings.

During the second quarter of 2009, more than 110 people a week asked the Ombudsman for assistance with problems over lettings. And over the last year, since the end of June 2008, the Ombudsman received an increase in enquiries regarding lettings of 44%. Leaders – the UK’s largest independently owned letting specialist – has always urged the public to take care when choosing a letting agents because of the complex nature of lettings, and the crucial role that the letting agent plays. From valuing the property and setting up the tenancy correctly, to serving the correct notices in the right way and ensuring a smooth handover at the end – it is vital to carry out every element of the process accurately. Getting it wrong can have dire consequences; including huge legal expenses, loss of rent, long void periods, loss of tenant’s deposits and serious penalties for not complying with legislation. For tenants it can literally be a matter of life and death if legislation regarding the safety of the property and its contents is not complied with. Says Leaders’ Managing Director, Paul Weller: “We are disappointed but not surprised by the significant increase in problems with lettings reported to the Ombudsman. Over the last year the property market switched emphasis from sales to lettings in response to the slowdown and we saw an increase in landlords coming into the market who were letting out their homes as they were unable to sell. Alongside this there has also been an increase in agents providing a letting service for the first time. “Our advice to the public is, and has always been, to use an experienced, specialist letting agent that is well established in the industry, has an in-depth knowledge of the lettings market and a thorough understanding of all the many regulations that apply to lettings.” At present, letting agents and landlords are not formally regulated, although the Government has proposed plans to address this. In the meantime, more than 6,000 letting agents, including Leaders, have signed up to the Property Ombudsman scheme and follow the standards laid out in its Lettings Code of Practice. This is seen by the Ombudsman as the first step towards the time when all lettings agents must be legally required to sign up for a redress scheme. Says Paul: “Demand for rental property is currently very high and many of our branches are experiencing significant increases in business, in many cases from landlords and tenants who are new to letting. We recognise how important it is that these people receive expert, professional and independent advice, and a service that is based on best practice in the industry. We therefore urge the public to not only limit their dealings to letting agents that are covered by the Property Ombudsman scheme, but to also consider the agent’s overall reputation, experience and professionalism.” For more information or for professional, friendly advice about all aspects of renting or letting in your area, please contact your local Leaders branch. For Press Enquiries, please contact: Lisa Martin Leaders Limited Columbia House Columbia Drive Worthing West Sussex BN13 3HD Tel: 01903 837733 Email: lisamartin@leaders.co.uk http://www.leaders.co.uk

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