Some very basic guidelines for agents wanting to reduce the risk of falling foul of the CPRs include: Remember that a material action/omission is likely to be anything that could cause an ‘average consumer’ to take a transactional decision he would otherwise not have made if he had full disclosure […]
We have some early indications on how the CPRs are being interpreted. EXAMPLE 1 Last year the Property Ombudsman ruled against a number of letting agents in cases of misleading omissions and actions. One such case involved tenants who were only informed of their landlord’s intention to use a shed […]
The new CPRs apply to both letting agents as well as estate agents. The Act appears to expand an agent’s responsibility to disclose ‘material information’ to potential tenants that you might reasonably expect to influence whether they proceed with the transaction. Providing false information has always been illegal but under CPRs […]
So this is what we are talking about? If you can answer yes to all these questions then you could qualify for a discount of up to 20% on your professional indemnity insurance. 1. Are you a provider of services of some sort? 2. Have you been trading for 3 or more years? […]
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