On Thursday 30th November 2023, the National Trading Standards Estate and Letting Agency Team (NTSELAT) announced new rules for property advertising. These rules are designed to improve the accuracy and transparency of property listings and to make it easier for consumers to find the information they need to make informed decisions about buying or renting a property.
We sat in on a web session attended by James Munro, Head of NTSELAT, to find out about these new changes, and how we can adopt them into our listings on our website, and across the major portals to ensure compliance and transparency.
The new rules come in two parts:
- Part B: This part of the rules sets out the information that must be included in all property listings. This includes information about the type of property, the number of rooms, the building materials used, and information about utilities and parking.
- Part C: This part of the rules sets out the information that must be included in property listings if the property is affected by certain issues, such as flood risk or restrictive covenants.
What do the new rules mean for us?
We will be making changes to our property listings to make sure that all of the required information is included and that the information is accurate. To ensure compliance, we will work with all relevant parties to ensure that the information we require is accessible and presented on the listings themselves.
What do the new rules mean for our customers?
Renters and buyers will have access to more accurate and transparent information about properties. This will make it easier for them to find the information they need to make informed decisions about renting or buying a property.
These clients can take the following steps to make the most of the new rules:
- Read property listings carefully to make sure that all of the required information is included and meets their needs and expectations of the kind of property they would like to rent/purchase.
- Ask the agent any questions that they have about the property.
- Get independent advice, such as from a surveyor or solicitor, before deciding on a property.
Our landlords and investors can rest assured that Ultralets' expert team are at the forefront of legislative changes within the industry. Their properties will be advertised to the new standards set out by NTSELAT, offering transparency and detailed descriptions to allow renters and buyers to make informed decisions, and find their ideal property efficiently.
The new trading standards rules for property advertising are a step forward for both letting and consumers. By making sure that property listings are accurate and transparent, the rules will help to make the property market fairer and more efficient for all.
If you have any questions about any of these changes, or if would like to find out more about what our Full Management service can offer you, get in touch
with our Lettings Manager, Jake, today. Or give our office a call on 01482 562 562 📞