Property Management Information - listing material issues
Changes in the law
The law is changing and legislation regarding consumer protection is becoming stronger. As a result, letting agents will need to tell tenants of anything which will ‘materially affect’ their decision-making. This could be any fact that, if known, might cause the average consumer to make a different decision.
Some examples might include:
- Major noise
- Significant problems with the property
- Anything which may have occurred at the property that would affect the transactional decision of the average consumer
To exaggerate the point: if there is a main road nearby, you would be expected to tell the tenant about the existence of this road (for safety or noise).