A well-known BTL investment firm has had its wrist slapped by the Advertising Standards Authority (ASA) for potentially misleading landlords over its prices.
In an informally resolved case, RW Invest UK was asked to take down seven adverts on the OnTheMarket website after the ASA received a complaint.
An ASA spokesman tells LandlordZONE: “The complainant challenged whether the ads were misleading as the headline price shown for the properties was not the actual price and was the deposit that would be required.
“We contacted the advertiser with the concerns that had been raised and they removed the listings. We sought assurances that future listings will reflect the correct price and do not contain any misleading information about the deposit required.”
The property investment company, with offices in London, Manchester (main picture) and Liverpool, advertises properties for sale around the UK and connects overseas and UK landlords with developers. It was estsablished in 2004.
It specialises in residential and student property investments, promises to, “identify locations with substantial rental yields, huge tenancy demand, and substantial capital growth potential”.
The complaint was received on 1st November and informally resolved on 18th December. RW Invest has promised it will not publish the adverts in the same form again. Informally resolved ASA cases aren’t put before the organisation’s council, so no ruling is published.
Pic credit: Google Streetview