This guidance is for all professionals involved in the lettings market, including letting agents, landlords and property intermediaries.
It aims to help lettings professionals to comply with consumer protection laws, and laws about dealing with other businesses, in the context of letting privately owned residential property.
In February 2013 the Office of Fair Trading (OFT), a predecessor organisation to the CMA, published ‘The lettings market – an OFT report’.
A response to the consultation on the draft guidance is also available.
The fines that could be imposed on summary conviction for certain criminal offences referred to in this document were, at that time, subject to specific caps of £5,000 or above. With effect from 12 March 2015, these caps have been removed and those specific offences are now punishable by a fine of any amount. For more information see the Ministry of Justice news story.