Europe UK (Commonwealth Union) – The Competition and Markets Authority (CMA) Releases Update on Progress for Consumer Protection Efforts in Private Rented Housing and Housebuilding Market Study.
The CMA has provided a comprehensive update regarding two significant initiatives within the housing sector today. One initiative focuses on safeguarding consumer rights for private rental tenants, addressing their prevalent concerns. The other initiative involves a detailed examination of competition-related issues within the housebuilding market.
Aligned with its annual plan, the CMA has indicated its dedication to achieving outcomes that enhance the well-being of individuals, enterprises, and the overall UK economy. Central to this commitment is the preservation of fair competition and consumer rights, particularly in the context of people’s residential arrangements.
Sarah Cardell, Chief Executive of the CMA, indicated that while the challenges within the UK housing market require collective efforts, the CMA is committed to contributing its part. They are determined to facilitate improvements in the private rental and housebuilding sectors, promoting better outcomes for both individuals and businesses.
“For private renters, we’re taking action to provide updated guidance for lettings agents so that both tenants and landlords are really clear about their own rights and responsibilities. We’ve also identified areas of concern relating to zero deposit schemes, sham licences, onerous guarantee clauses, and possible unlawful discrimination. These warrant further investigation and we stand ready to take enforcement action if needed.”
In the midst of financial difficulties that followed pandemic lockdowns bitterness by both tenements and landlords towards each other increased with Tennant’s arguing that landlords were showing no flexibility with Tennant’s who had difficulties paying rent, to which many landlords indicated that they too had obligations to pay off mortgages on the properties and that many landlords had gone as far as they could with some Tennant’s in arrears for month. Which shows and urgent need for authorities to find a compromise for both groups.
