The Property Redress Scheme is now the largest redress scheme for lettings work in the UK
In our eighth year, our membership grew to over 17,200 agents including 1,282 registered branches throughout the UK. Membership numbers rose by six per cent, from 16,272 in 2021.
We offer three membership models to give our members the choice of a model that suits their needs. The three membership models are:
Enhanced model: members pay an annual fee for a head office and an additional fee for each branch. There are no additional fees for sales and lettings complaints (this is subject to a fair usage policy)
Entry model: members pay a lower annual subscription fee and a reasonable complaint fee for each sales, lettings and property management complaint
Residential leasehold management model: this model is designed for property agents that conduct residential leasehold block management as the main aspect of their business. Members pay a reasonable fee for property management, sales and lettings complaints.
The majority of our members use the entry model membership (73%), just over 25% of our members choose the enhanced model and only two per cent are residential leasehold management model members.With members having this choice, over 80% renewed in 2022.
Our membership also includes private landlords and corporate landlords (834 members) who have voluntarily joined our scheme, before the Government makes landlord redress compulsory.
In 2022 we launched a pilot landlord redress scheme with the National Residential Landlords Association. Find out more later in this report.
In terms of type of work carried out:
• 53% of our members work in lettings
• 40% are sales agents
• seven per cent are property professionals (corporate landlords, inventory clerks, educators and relocation agents)
