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TPO Annual Report 2014

We recently released our much anticipated annual report which revealed a continuing upward trend in new referrals, 42% against the previous year.  This is indicative of both the general trend in the consumer world to challenge when something does not give satisfaction, as well as the growing number of agents (28% more than at the start of 2014) now signed up as members of TPO.

Six months on from the introduction of new legislation, making it a legal requirement for lettings agents and property managers in England to join a government approved redress scheme, the report indicates the number of letting offices now signed up to TPO scheme has reached a record level of 12,915.  This brings the total number of sales and lettings offices offering TPO's free, independent route to resolve disputes to 26,735, a figure we’re very proud of.

Statistical highlights featured in the report include:

Lettings:

  • 19% increase in registered membership letting offices
  • 40% rise in lettings cases received
  • 33% increase in cases resolved via mediation
  • 10% increase in cases resolved via formal review
  • 11% of lettings issues reported to TPO related to repair and maintenance
  • 54% of complainants were landlords versus 44% tenants
  • The average lettings award has risen 27% from &411.97 to &524.10
  • 23% of complainants were from the South East, followed by Greater London (21%) the South West (9%) on par with North West (9%).

Sales:

  • 14% increase in registered membership sales offices
  • 43% rise in sales cases received
  • 21% increase in cases resolved via mediation
  • 13% increase in cases resolved via formal review
  • 20% of sales issues reported to TPO related to communication failure
  • 59% of complainants were sellers versus 39% buyers
  • 23% of complainants were from the South East, followed by Greater London (13%) & South West and Eastern Region both (11%)

To read the whole report click here

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