Advertising Tenancy Fees
As you may be aware, recent new guidance from the Competition and Markets Authority (CMA, previously the Office of Fair Trading) and agreed with the Advertising Standards Authority (ASA), states that all rental property adverts on portals need to reference tenancy fees, and that information on the actual fees a letting agent charges also needs to be provided.
Rightmove have updated their portal feed to allow this information to be sent through and displayed in a light-box which will appear when a user clicks the “fees apply” link. This light-box currently contains generic fee information text as agreed with the ASA. In line with this, RentPro has been updated to allow this information to be added so that it can be fed through to Rightmove, and other portals as they make this change.
The ASA will require that agents update their stock on Rightmove by the end of November. We have therefore introduced this field well in advance of this point so that agents have sufficient time to provide the required information on existing and new stock. It will be the agent’s responsibility to comply with the guidance and provide specific tenancy fee information.
We realise that the same set of fees may apply to all properties that you market. As such, you can define a standard statement via Admin > Control Panel > Portals tab. This statement will be included in all new properties added to RentPro. Note that all existing properties that you intend to advertise via a property portal, or your agency website will have to be manually updated.