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On 1st October 2016, The Property Redress Scheme (PRS) gained approval from the Chartered Trading Standards Institute (CTSI) and the National Trading Standards Estate Agency Team (NTSEAT) under the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015 (ADR Regulations).
Both CTSI and NTSEAT are authorised as competent authorities for the purpose of the work the PRS undertakes under the ADR Regulations. The NTSEAT cover our estate agency work whereas the CTSI cover all other property related work including lettings and property management.
The PRS is a relatively new provider of consumer redress. We have been in operation since the summer of 2014 and initially set up to enable lettings and property management agents to comply with their legal requirement to join a redress scheme under the Enterprise and Regulatory Reform Act 2013. We quickly obtained authorisation from NTSEAT to offer redress to estate agents under the Consumers, Estate Agents and Redress Act 2007.
These statistics of the PRS's operations are available on our website here.
Our quarterly expulsions update offers some insight into what leads up to the PRS’s decision to exp...Read More »
New material information guidance for sales and letting agents was published on Thursday 30 Novembe...Read More »
Property Redress Scheme is approved by Government under the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015