There are two recognised providers which all Letting Agents must sign up to.
Introduction to the Scheme
Membership of a redress scheme came into force on 1 October 2014. Letting agents and property managers had to join one of the Government approved schemes.
The schemes provide an escalated complaints process to consumers.
Property Redress Scheme
If an Agent does not join a redress scheme they can be subject to a £5,000 fine from the local authority. They may be closed down if they continue to breach the legal requirement to join.
After joining a scheme the Agent must follow the Ombudsman's decisions. Failure to do so may result in removal of the Agent from that scheme.
An Agent may be unable to join other government authorised consumer redress schemes.
DCLG Guidance
Further guidance can be sort through the Department of Communities and Local Government.
Lettings agents and property managers redress schemes