OFT consults on draft guidance for letting agents and residential landlords

The Office of Fair Trading (OFT) has published a consultation on draft guidance aimed at letting agents and residential landlords, to help them comply with law relating to the private rented sector.

On 16 October 2013, the Office of Fair Trading (OFT) published a consultation on draft guidance aimed at letting agents and residential landlords, to help them comply with the law relating to the private rented sector.

The OFT’s report on the lettings market, published in February 2013, identified a number of concerns about the private rented sector and how these were adversely affecting occupiers and potential occupiers.

The OFT concluded that many of the problems identified could be solved if letting agents and landlords were better informed and better equipped to comply with existing consumer protection legislation. As a result, the draft guidance clarifies how the law applies to property letting and sets out practical steps to take to comply with the law.

The consultation runs from 16 October 2013 to 10 December 2013 and responses should be e-mailed to lettingagents@oft.gsi.gov.uk.

Source: OFT: Draft OFT guidance for lettings professionals (16 October 2013).