There was a massive 20% rise in 2024 in complaint enquiries about agents, made to the Property Redress service.
And some 76 agencies were expelled, compared to 58 in 2023, an increase of 31%.
The service is one of two government-approved redress operations and it says that last year’s figure is actually 44% higher over 2022.
It splits its analysis of complaints into two – what it calls “early resolution” and “proposed and default decisions”.
On the latter the service awarded compensation in 2024 totalling £1,486,710. This was 56% more than in 2023.
The total figure awarded for early resolution and decisions combined was £1,681.588, an increase of 28% on the previous year.
The top three complaints for lettings were the same as the previous year: holding deposits, poor service and management, and tenancy payments and rent collection.
Despite increasing complaint numbers, Property Redress says it has continued to successfully resolve around 50% of cases at early resolution and the primary focus remains “to build the initial impartial relationship with both complainant and member at the earliest stage of a complaint.”
Sean Hooker, head of redress at Property Redress, says: “Despite the increase in complainant volumes, the time to resolve matters has reduced, with a higher number of satisfactory outcomes. Our steadfast commitment to early resolution has proven effective, reflecting a shared willingness among parties to reach amicable solutions. As we strive to support, educate, and improve industry standards while continuing to clamp down on some of the poor practices that ensue, our adoption of innovative approaches like mediation and early resolution has yielded positive outcomes, fostering greater satisfaction among stakeholders.”
Property Redress claims to have as members some 18,802 agents including 1,459 registered branches throughout the UK, and covering over half the letting agents in the country.
You can see the full report here: https://content.theprs.co.uk/story/property-redress-annual-report-2024/page/1?utm_source=annual%20report&utm_medium=press%20release&utm_campaign=march%202025
This article is taken from Landlord Today