TENANCY DEPOSITS
Plain Speaking at TDS
The Special complexities of tenancy deposit protection can be a mystery
for tenants, their landlords and their agents but The Tenancy Deposit Scheme is leading the way in the use of plain language to educate all parties in the rental market, where so much money can be at stake. The Scheme has won five
accreditations from the Plain Language Commission for important documents that are available through the website and on request. They cover many of the key
aspects in the protection of deposits and in dispute resolution. It is the only authorised deposit protection scheme to have won these plain language awards. The Scheme has published the award winning guide,
‘No one should feel that our processes are secretive.’
“10 Key Things To Help You Get It Right” in two different versions, one for tenants and the other for agents and their landlords. The Dispute Service has also
gained a plain language accreditation for the description of how the Independent Case Examiner approaches disputed deposits and how the Scheme will deal with complaints. Mike Morgan, Head of
Adjudication for the Tenancy Deposit Scheme said, “We have worked hard to
ensure that no one - tenant, landlord or agent - should feel that our processes and the way we adjudicate are in anyway secretive or opaque. “We have gone the extra mile with the plain language awards so as to make deposit protection a simplified exercise for everyone.” For further information visit:
www.tds.gb.com
FURNISHING
FCC Paragon &
PavilionBlu.co.uk A strategic
partnership has been formed between the tenant referencing
agency, FCC Paragon, and
PavilionBlu.co.uk, which provides furniture and furnishing solutions to landlords, tenants and consumers direct.
It is widely recognised that a house or apartment will let or sell quicker if it is properly furnished. To make this task easier and more affordable,
PavilionBlu.co.uk has devised a number of Furnishing Packs ideal for landlords and vendors, whatever their budget. The furnishing packs have been
assembled in conjunction with one of the UK’s leading suppliers, offering the most comprehensive range on the market, fast easy efficient delivery and, most importantly, affordability. There are nine selections from Basic/ Student to high-end luxury – all providing one, two and three- bed options. A special Privilege Club has been
created to enable agent’s clients to benefit from a discount off the normal selling price of any non- pack item. As well as the client saving every time they shop online
PROFESSIONAL INDEMNITY Protect your business!
HomeLet is encouraging all letting agents to make sure they are protected against disputes by
having a Professional Indemnity Insurance policy. If a landlord or tenant takes legal action against his letting agent for an alleged incident, for example, negligence, the costs could spell the end of the agency if no Professional Indemnity (PI) Insurance is in place. HomeLet’s PI, underwritten by Zurich, offers a tailored service to cover lettings agents against claims of negligence, libel, slander, breach of confidentiality and more, giving letting agents peace of mind that their business is covered. HomeLet’s push follows the results of a recent report released by ARLA that calls for greater regulation in the letting industry from the Government. In the
at
www.pavilionblu.co.uk, the agency or nominated negotiator(s) will earn BluPoints, each worth 1 per cent of the selling price of pack and/or item, therefore as an example an agency could earn in excess of £1000 over the course of a year. Bryn Cole, MD of FCC Paragon, says ”in today’s challenging marketplace it’s welcome that a service such as this is available, especially to suit all budgets, and I’m delighted to be able to offer this to our UK-wide clients to assist them sell or let a property quicker and for a better price.” James Derham, MD of
Whitehead’s Group and
PavilionBlu.co.uk’s Property Expert comments “as a property investor myself and owing an estate agency, I am acutely aware of the benefit of such a service for agents and landlords. We are delighted to have partnered with FCC Paragon with this scheme.”
MARKETING
Promoting security
With increasing calls for more consumer information and education
in the private rented sector, insurance experts have pointed to a gap in this campaign. Let Insurance Services, who
provide tenant referencing and specialist rental insurance to letting agents, have pointed out that despite calls for letting agents to market client money and deposit protection, too little has been said about the need for agents to educate their clients, both landlords and tenants, about protection from other risks. Michael Portman, MD, Let
Insurance Services, says that most commercial sectors make a positive marketing issue out of the need to insure against risks that are not the suppliers’ liability. “The lettings industry
should look at the travel industry so that landlords and their tenants are as fully informed when letting and renting as when going on holiday through an ABTA travel agent or bonded tour operator,” he said. “Anyone buying a holiday
report, ARLA requests increased protection for investors in the private rented sector. John Boyle, Homelet MD said,
“Every year, thousands of lettings agents find themselves embroiled in time consuming, financially draining disputes between landlords and/or tenants. Without a suitable professional indemnity insurance policy, such disputes can result in costly, time-consuming legal cases that might even threaten the future of some businesses.” Telephone: 0845 117 6033.
knows the need for travel insurance. It is automatic among most ABTA travel agents and tour operators to warn of potential risks when selling travel. “As well as the risk of the supplier failing, there are individual risks to health, possessions and disasters to be covered. This applies to letting and renting, yet as an industry we do not make enough of it.” “Landlords need to know
how to cover loss of rent or the cost of legal expenses and tenants should understand where their contents and liabilities are covered. “Now is the time for letting
agents to take advantage of the new demand for information and education in the private rented sector and promote insurance too. It is in their interests.”
PROPERTYdrum JUNE 2011 57
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