The Property Ombudsman (TPO) scheme’s updated Codes of Practice became effective on 1 June 2019.
The changes will have a big impact on how agents conduct business, and include the Tenant Fees Act, Client Money Protection and the General Data Protection Regulation requirements.
The new codes are available on the TPO Codes page.
Common changes across all the Codes of Practice include:
- members must display the TPO logo prominently on emails, other digital communications and marketing materials
- disclosing referral fees is now an obligation, rather than a requirement
- agents must explain both the pros and cons of their recommended transaction method at market appraisal stage.
TPO will apply the new codes of practice when reviewing consumer complaints about events that have occurred after 1 June 2019.
It consulted with 44 different organisations and individuals during the review process, including the Law Society.
TPO is running workshops about the changes at its annual conference in Solihull on 10 July. Tickets are offered with a 40% discount via the code: TPO190710.