Material information requirements
For both sales and rental properties, emphasising the implications and changes in disclosure obligations
In February 2022, the National Trading Standards Estate and Lettings Agency Team (NTSELAT) published Part A of their guidance for sales and letting agents, outlining what ‘material information’ needs to be published on property listings.
So, by May 2022, all listings had to include a property's council tax band or rate, the property price or rent and tenure information (sales).
In November 2023, Parts B and C were published. Under Part B, all property listing should include:
The type of property – e.g. semi-detached, bungalow, flat, etc.
The building materials used or construction type
An accurate description of the number and type of rooms
Information about utilities and whether they’re currently connected
Available parking at the property
Part C is information that only needs to be included if the property is affected by the issue, for instance:
Relevant building safety information
Restrictive covenants
Planning permission and development proposals
Flooding and erosion risk
Coaling or mining area
If you use a sales or letting agent to market your property, check they make sure listings follow this guidance, with changes expected to be reflected on property portals by the end of 2024.
If you are carrying out any marketing yourself, NTSELAT has helpful guides for sellers and landlords, and buyers and tenants.
There are two things for landlords in Scotland to be aware of in the coming year:
Having been extended for a second and final time in September, the three per cent cap on annual rent increases and eviction pause in Scotland will end on 31 March 2024.
Although this means there will no longer be a specific legal limit on how much a landlord can raise rents by each year, the reality is that the ongoing cost of living crisis and affordability pressures for tenants may make it hard for landlords to impose higher increases.
The Renters (Reform) Bill is proposing to make it illegal for landlords and letting agents in England and Wales to apply a blanket ban on renting to people who receive benefits or families with children, and the Scottish Government intends to propose an amendment to the draft legislation to extend this to Scotland.
This may not take effect in 2024, but it is certainly something to be aware of. It’s also a reminder that landlords should be very careful about discriminating against tenants for any reason other than them not satisfying referencing and credit check requirements.
For a reminder of all the changes that took place in 2023, see our month-by-month round-up of what 2023 meant for landlords.
Improved clarity for buyers and renters
Increased burden for sellers and landlords
No significant impact
Not sure
