As of the end of this month, Rightmove will be displaying the additional Material Information Parts B and C fields on all its property listings.
So what has changed and what do landlords need to know?
The National Trading Standards Estate and Letting Agency Team (NTSELAT) has issued guidance on the material information relevant to property transactions.
A first set of guidance (Part A) was introduced in May 2022, and Parts B and C were issued in November 2023. Part A requirements should be present on all listings information relating to a property let, whereas Parts B and C should be ‘no more than one click away’.
Material information is simply information that supports an informed decision on a property transaction. The material information should be provided at the earliest reasonable opportunity, usually via the property listing on a website. Material information should include both positive and negative information. It is in the interests of all involved to disclose material information to prevent a failed transaction at a later stage, to minimise enquiries and to ensure that the transaction can proceed smoothly.
Content varies depending on the property.
The Consumer Protection from Unfair Trading Regulations 2008 required that letting agents must not to omit material information from property listings, but it had become apparent that disclosure was not consistent across the industry.
The change is intended to create more consistency across sales and lettings so that consumers have greater clarity and can make informed decisions at an early stage in the process.
Part A was enforced by National Trading Standards in May 2022 and covers compulsory material information for property listings. The intention is to ensure that agents do not intentionally exclude information relevant to potential tenants.
Information required is:
Council tax band and cost
Energy Performance Certificates
Rent and holding and security deposits payable
Part B includes information that applies to every property:
Broadband or cellular coverage and any restrictions that may apply, such as poor reception
Method of construction
Method of heating including information such as communal heating and billing arrangements
Number and type of rooms including room sizes
Parking arrangements including information on parking permits and allocated spaces
Utilities (including electricity, gas, water, sewerage), arrangements in place where there is no mains supply, and any other non-standard installation which results in additional costs of maintenance.
Part C will vary depending on the property and its location:
Accessibility
Adaptations
Building safety (for example if there are costs to the tenant, issues with obtaining insurance, or where remediation or maintenance work is required)
Conservation area inclusion
Listed status
Location in a coalfield or mining area
Planning permissions both concerning the property itself and relating to surrounding properties
Potential risk of coastal erosion
Potential risk of flooding, including location on a flood plain and information about previous floods
Restrictions
Rights and easements (e.g., public rights of way)
Essentially the information that must be supplied is similar to that required when selling a property.: the main difference is in the point at which the information must be provided.
A letting can fall through if you as a landlord, or your agent, fail to provide information upfront, resulting in the potential tenant withdrawing when the information comes to light or once a tenancy has started.
Our advice to landlords is to start collating the required information at the earliest opportunity, and your lettings agent can help with this. Supplying this information will help speed up the time it takes to get your property to market, and ultimately, let.
The National Trading Standards is a useful source of further information >
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