New Rules on additional fees when advertising rental properties from 1 November 2013.
Following a ruling by the Advertising Standards Authority (ASA) about additional fees for lettings charged by letting agents, new regulations will come into force November 1st 2013. These do not apply to private landlords, though they are encouraged to comply.
This will require all agents’ rental advertisements to provide consumers with information about any compulsory additional fees payable.
The new ruling by the Advertising Standards Authority (ASA) means that any additional fees payable on a letting, for example admin fees or tenant checks, to be charge to the tenant in addition to their rent and deposit, be clearly stated when the property is advertised.
The ruling further states that it is not enough just to suggest there are additional fees, but that enough information must be given for consumers to be fully aware that there will be add-on fees and to provide them with enough information to calculate these additional fees if it is not possible to give an exact amount in advance.
This ruling follows a recent case brought before the ASA where a complainant objected to ads that did not include any information or warning of compulsory administration charges.
Although not all landlords charge additional fees, many do, and almost all agents routinely charge fees, some in quite substantial amounts. It is very important therefore especially for agents to be aware that when advertising properties to let, these new rules must be complied with after the 1st of November.