The largest of the three government-approved redress schemes, The Property Ombudsman, has updated its codes of practice to include new legislation that has come into force within the last 12 months.
The review takes account of the Consumer Rights Act and changes introduced yesterday under the Deregulation Act. TPO will apply the new codes when reviewing consumer complaints about events occuring from October 1 onwards.
The codes that have been revised include Residential Estate Agents, Residential Letting Agents, Residential Estate Agents (Scotland), Residential Letting Agents (Scotland), Buying Agents, Property Buying Companies, Commercial and Membership Obligations.
TPO's first code of practice was enforced back in 1990.
"During that 25 year period, the property industry has developed tremendously and continues to change today making it necessary to release new versions to ensure agents fully understand their responsibilities. As the market changes, we continue to provide as much up to date information as possible through our guidance documents and website to support both members and consumers” says TPO's outgoing ombudsman, Christopher Hamer, who leaves office next month.
The review process involved trade associations, sales and lettings agents and a representative from TPO’s independent council.