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The Property Redress Scheme annual report 2022 has simply been launched and displays on the previous 12 months within the property rental sector and we have a look at among the main issues on the horizon that property brokers have to be ready for in 2023.
The report covers a abstract of what occurred within the non-public rented sector in 2022 and the way this has impacted the complaints raised, resolutions and memberships of the Property Redress Scheme. The PRS annual report 2022 additionally contains the outcomes of the biggest sentiment survey of the 12 months, carried out throughout sector. Read the report here.
Key highlights from the report
- Membership numbers rose by six per cent
- Early resolutions awarded elevated by 48% in 2022 to £353,053
- Over 2,000 complaints raised in 2022, a rise of 6.8 per cent
- Complaints had been accomplished in lower than 40 days in 2022, in comparison with 50 days in 2021
“The Property Redress Scheme has grown for the eighth 12 months in a row, growing our membership by six per cent from 2021. As of 2022, we are actually the biggest redress scheme within the UK. This can be a reflection on the popularity and popularity of the scheme and reveals we’re established and revered within the sector. Read the full report to search out out extra.”
Sean Hooker, Head of Redress on the Property Redress Scheme
Key highlights from the survey of over 3,000 brokers and landlords
- 76% of brokers really feel the non-public rented sector is match for function and 72% of landlords really feel the identical. Their primary causes for this are it supplies an everyday earnings, and the present regulation protects landlords
- Each brokers and landlords really feel the largest challenges dealing with the non-public rented sector are laws (brokers 25%, landlords 39%), lease funds (brokers 24%, landlords 21%) and property upkeep (brokers 17%, landlords 14%)
- Regardless of laws being an enormous problem, 83% of landlords are assured their compliant with present rules
- 50% of brokers really feel very or fairly supported by the Authorities and 24% really feel neither supported or unsupported whereas 43% of landlords really feel not very or not supported in any respect and 16% really feel neither supported or unsupported
- Nearly half (48%) of all landlords really feel the present laws hinders them attributable to too many complicated rules
- Nearly an equal variety of landlords are in opposition to (31%) as they’re for (30%) tenants with pets of their property
- 80% of landlords envisage themselves nonetheless being a landlord in three years’ time
In regards to the Property Redress Scheme
The Property Redress Scheme is now the biggest letting agent redress scheme within the UK with over 17,200 members.
Our function is to offer an neutral service that considers shopper complaints about a wide range of property associated points. The PRS have an professional group that:
- examine pretty and hearken to each side, as soon as the member has had the chance to resolve the grievance instantly
- clarify issues clearly and let individuals know the place they stand, initially making an attempt to barter an early decision
- give individuals our resolution as rapidly as attainable, the place early decision was unsuccessful
- at all times meet individuals’s communication and accessibility wants
Be part of the PRS at the moment
All brokers can be part of the Property Redress Scheme, it’s a easy and easy course of. Merely full the applying kind here and pay the suitable annual subscription price.
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