Saturday 11 July 2009

OFT v Foxtons

As some of you may know, this has been going on for some time.

Foxtons and the Office of Fair Trading have been locking horns in the Court of Appeal regarding Foxton's T&Cs.

Was it fair that they should charge landlords commissions when tenants decide to renew contracts, even though they've done no extra work? Was it fair they sales commission if a tenant decides to buy the property, even if they didn't formally introduce it as a potential sale?

Other lettings agents have been watching the case closely, concerned that a precedent would cost them dearly in a renewal fees... because everybody does it. Finally... a judgement. No, Foxton's T&Cs weren't fair. But not due to their content, due to their wording. They simply weren't clear enough. Is charging commission on renewals unfair in itself? No. So there you have it. Everybody's a winner... loser... winner... loser... whatever....

Glad we cleared that up.

Mr Jackson.