10 Mar 23
There’s been a big rise in the number of complaints about agents lodged with the Property Redress Scheme, which says it’s now the largest of the two official redress services in the lettings space.
In 2022 complaints raised increased throughout the year by an average of 6.8% per cent compared to 2021 – that’s 2,009 complaints last year compared with 1,872 the year before.
By December 2022, the scheme was dealing with over 30% more cases than at the start of the year.
The scheme says that even with increased membership it maintained the proportion of successful early resolutions at around 50%; these early resolutions awarded a total of £353,053 in compensation. This was an increase of 48% from 2021.
The average award last year was £893.
Last year PRS also issued 34% more proposed and default decisions than in 2021. The total figure awarded over proposed decision and default cases was £489,916 a hefty 43% increase on 2021. The average award in this category was £1,480.
In the lettings sector the top three causes for complaints were over holding deposits, poor service, and tenancy payments and collection. On the property management side, the top three complaints covered poor management service, maintenance, and the provision of relevant documentation.
Last year 61 agencies were expelled – not all connected with lettings issues – and this represents a one third increase from 2021. “This may reflect the current economy but also highlights the quality of our compliance process” claims the scheme.
In total the PRS has over 17,200 members.
“The Property Redress Scheme has grown for the eighth year in a row, increasing our membership by 6% from 2021. As of 2022, we are now the largest redress scheme in the UK. This is a reflection on the recognition and reputation of the scheme and shows we are established and respected in the sector” says PRS head of redress, Sean Hooker.
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