Registered with Property118.com
Tuesday 15th July 2014
The Property Redress Scheme (PRS) is a Government approved letting agent and property management redress scheme (often known as a property ombudsman).
It is essentially a mechanism for enabling a third party to deal with consumer complaints on behalf of tenants, leaseholders and landlord customers of the letting agents and property managers. It will be compulsory for all agents to be a member of an approved scheme in order to operate.
The scheme is underpinned by legislation under the Enterprise and Regulatory Reform Act 2013 and applies only to England. We are waiting for enabling secondary legislation to be passed that will lay out the date from when all agents will be required to comply. We anticipate that this will be around October 2014.
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