The industry regulator is set to tell agents what they must include in leasehold property listings.
Campaigners have been urging Rightmove to make it mandatory for agents to include tenure terms on their listings rather than just offering it as an option.
Rightmove has now told activists that the National Trading Standards Estate and Letting Agency Team (NTSEALT) is working on a list of “material information” that must be included on a property listing.
An email from Rightmove to the Leasehold Knowledge Partnership, National Leasehold Campaign and members of the All Party Parliamentary Group on Leasehold Reform and Commonhold Reform, seen by EYE, said: “We are in contact with NTSEALT who are currently working on a list of material information that must be included in a property listing based on latest guidance available.
“As soon as we have this we will review any changes that need to be made and will be communicating with all of our agent customers.”
The Property Ombudsman has already warned that agents who don’t divulge tenure terms are in breach of the Consumer Protection from Unfair Trading Regulations.
Comments (5)
Is it not something already covered in the CPRs?
NTSELAT
#pedant
Should not be up to Rightmove to dictate or control this . They dictate too much already.
Pointless having a regulator who insists on what must be included when the same regulator won’t enforce the existing laws.
How many properties are marketed without a valid EPC, for example?
Do many buyers care, no, but it is the law.
I have never understood how a valuer/agent thinks they can give proper advice as to marketing or the value of a property without knowing at least the headline facts concerning the lease, ground rent, and service charges. Without this info you are flying blind.