Rental Property Listings Prices Deemed Unlawful
The small number of rental property listings on websites and portals as Price on Application have now been deemed illegal by the National Trading Standards Estate and Letting Agency Team.
POA labels are usually found only on high-end properties, and typically those for sale rather than to let – but some agents, typically those marketing homes to rent in parts of prime central London, use POA rather than displaying a specific rental price.
Now NTSELAT says the use of POA or Price On Application in relation to rental property listings on a property portal or an agent website is likely to be misleading as it withholds – or in some cases masks – the asking price from consumers.
“A property’s price is information which the average consumer needs in order to make an informed transactional decision, such as to make enquiries about the property, conduct further research or arrange a viewing” says a Trading Standards statement.
“I am pleased to be able to set out a clear position that the use of POA or Price On Application in property listings is unlawful. We have considered this issue carefully and I am grateful to colleagues, the CMA and legal experts for their input” explains James Munro, the senior manager of the NTSELAT.
He continues: “We hope this clarity will be helpful for property portals and agents as they prepare their listings going forward. This position will now form part of our general industry advice and guidance.”
The NTSELAT statement says the organisation consulted barrister Lee Reynolds on the issue back in December 2020.