Way back in 2014, the Advertising Standards Authority made a ruling that all property agents must display their prices as inclusive of VAT and ever since then, this has been the current advice from the Committee of Advertising Practice (CAP).
However, take a look around at some of our competitor’s advertising and you will see that there are still a few who appear to have not got the memo!
The role of a good agent, particularly a letting agent, is that of a paralegal one. There is an ever changing sea of regulation and legal obligations that landlords and by association, letting agents, must keep up to date with. An agent who is not on the ball can ultimately be exposing you, the landlord, to litigation from a number of different angles.
Of course this is not to say that you as the landlord would be held responsible for an agent failing to include VAT when advertising their fees but when you see an agent breaching regulation seemingly obliviously, it does beg the question – what else are they missing?
So please note, if you are looking for an estate agent to sell or let your property and you are comparing prices, don’t forget that whilst the price you see should be the price that you pay, in some cases it is not!