The Custodian Insurance Industry Blog

May 19, 2014

CPRS

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 not disclosing information is also against the law and ignorance may not be a valid excuse. So, if the agent has made no realistic attempt to obtain all relevant information, they may still be liable for breach of CPRs.

This can expose agents to possible conflicts with their clients. Although they may be instructed by their landlord, they also have to be mindful of being fair to the tenant and consider their best interests too.

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