The partnership is aimed at offering a simple and quick course of action to settle long-standing disagreements between the parties involved, without the cost of referring to an arbiter.
While the service is available for an annual fee of £120, or £80 for letting agents already registered with the Ombudsman, it is free to use at the point of dispute and it is hoped that problems can be solved at an earlier and more informal stage.
Chair of the NALS, Caroline Pickering, commented: “It is our ongoing aim to raise standards, add value and endorse best practice in the private lettings sector. And, of key importance, is to support our accredited firms by securing the utmost credibility for them in their dealings with tenants and landlords.
“It makes total sense that adjudication should be open to both tenant and landlord in the unfortunate event that an intractable problem arises with a letting agent, and here we have a solution that is cost-effective and straightforward for all parties – by recognising that early agreement is beneficial on all sides.”
Andy Young, chief executive of The Mortgage Business Company, commented: “Along with initiatives such as the Tenancy Deposit Scheme coming in, it just helps raise the standards of the sector. Anything to resolve disputes in a more timely fashion has got to be welcomed.”
Answer ten questions to win Amazon vouchers!
Get the daily news delivered to your inbox
Find the latest industry jobs