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Estate agency told to remove ‘rent guarantee’ claims from website

first_imgA sales and lettings agency that advertised a rent guarantee service to landlords on its website has had a complaint about its claims upheld by the Advertising Standards Authority (ASA).The ruling means agents who advertise ‘rent guarantees’ must be much clearer about the service they offer if they want to avoid being referred to the ASA.London two-branch sales and lettings agency www.victoriaknight.co.uk, which is owned by Smartinvest Capital Ltd, published an advert on its website offering “the assurance of a fixed monthly rental income without all the hassles involve in being a landlord”.“Find out more about our Rent Guarantee service and the terms and conditions” the ad went on to say.Someone complained to the ASA, challenging whether the claims within the ad were misleading because they suggested rent would be guaranteed in all circumstances, and did not make clear the limitations that applied to the service.Sub-lettingIn its response to the ASA, SmartinInvest explained that it in effect became the tenant of the property and sub-let it and that landlords saw the full terms and conditions of the deal before signing up. It also said that landlords were covered by insurance that guaranteed rent and paid the legal costs of eviction.The ASA said landlords would understand ‘rent guarantee’ to mean a specific guarantee of payments and would not understand from the advert that SmartInvest/Victoria Knight would become the tenant.It was also found by the ASA that the agreement between landlords and SmartInvest had exclusions including non-payment of rent if the property became uninhabitable, which the advert did not make clear nor make the terms and conditions available on the Victoria Knight website. The ASA therefore considered that the ad and its ‘rent guarantee’ and ‘rent guarantee service’ claims were misleading.advertising standards authority ASA Smartinvest Capital Ltd victoria knight November 21, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Estate agency told to remove ‘rent guarantee’ claims from website previous nextRegulation & LawEstate agency told to remove ‘rent guarantee’ claims from websiteThe Advertising Standards Authority has upheld a complaint against London agency Victoria Knight over an advert promoting a guaranteed rent scheme.Nigel Lewis21st November 201801,604 Viewslast_img read more