Material information: New rules on advertising homes to let
Rules regarding the information that should be included in advertisements for rental homes have been withdrawn, following the introduction of new legislation.
Material information guidance was introduced in 2023 to make sure tenants were in possession of all the facts when taking on a property – and to ensure landlords and agents were meeting their legal obligations.
The rules have now been superseded, after the Digital Markets, Competition and Consumers Act (DMCCA) was introduced on 6th April, replacing the Unfair Trading Regulations 2008, on which the initial guidance was based.
The new regulations do not define material information in as much detail as the previously available guidance and many have raised concerns about the change creating uncertainty for the sector as a result.
Instead, the material information states that traders must provide relevant material information on any 'invitation to purchase' and must not deliberately mislead a potential tenant about a property or its condition, this including failing to provide relevant information.
The rules also explicitly ban aggressive practices.
The NRLA has created a guide on the changes – outlining the new rules and how to comply – which you can access here.
Alongside this the association has also published a second guide for agents, on the new reporting obligations as part of the UK Financial Sanctions Regulations, which has come into force this week.
You can access the new guidance here.