Protecting consumers in the lettings and managing agent market – Law Society Response
The Law Society has responded to the Department of Communities and Local Government Call for Evidence on ‘protecting consumers in the lettings and managing agent market’.
The Society’s response focuses on the residential conveyancing process, where obtaining information from managing agents, and the lack of transparency in relation to fees, creates delays and other issues.
The Society believes the government should look at ways of protecting consumers including:
- introducing more formal regulation of managing agents;
- giving long leaseholders increased rights to change managing agents and making it easier for long leaseholders to acquire the freehold, or a very long lease, of their building so that they can appoint their own managing agents;
- obliging managing agents to provide material information that can be supplied to consumers at an early stage to increase their ability to make informed decisions.
View the DCLG's call for evidence