Property Redress Scheme unveils plans for new advisory panel

The Property Redress Scheme (PRS) is putting together an advisory panel to improve governance, accountability and sector representation when formulating policies.

It will replace the PRS Advisory Council and is looking to fill up to 15 board positions.

The current PRS Advisory Council was set up to advise the head of redress Sean Hooker and refer him to matters of consideration such as new or modified laws or forthcoming government policies as they relate to the property industry. 

The Advisory Council also scrutinises the head of redress and ensures the scheme’s impartiality.

The new approach aims to ensure all parts of the property sector are represented and have their views heard when it comes to PRS policy decisions.

The areas of representation that the PRS are seeking experts from are:

• Holiday lets
• House purchasers
• Inventories
• Landlords 
• Leaseholders 
• Lettings professional
• Property Education
• Property Sourcing
• Rent-to-rent 
• Residential Leasehold Management professional
• Sales professional
• Tenants 

Hooker said: “Our intention is to invigorate and to democratise the private rental sector through the active participation of sector experts. 

“Traditionally, advisory boards are made up of individuals with big names often justifiably so. 

“However, our new approach to attracting Advisory Panel members is to focus on a much broader and more diverse membership whereby we will select based upon genuine knowledge, experience and likely contribution to innovating and improving property redress, regardless of public profile”.

Tim Frome, managing director of HF Resolution, the Hamilton Fraser Group entity that owns the PRS, added:“As we approach the second decade of formal property redress we are improving our offering to ensure that it takes its lead from the best and brightest in the property industry.

“Property has become ever larger, more complex and diverse as a sector and with multiple sub-sectors that all represent separate areas of specialism. It’s important for any oversight organisation to hold a mirror to itself and to adapt as the industry that it sits within does so too. 

“Our proposal to attract up to 15 advisory experts from across the spectrum via a fresh and inclusive process cements the Property Redress Scheme as a truly modern and forward thinking organisation best equipped to tackle the challenges of a changing space”. 

It is anticipated that the Property Redress Scheme Advisory Panel will convene twice annually, once in person and once virtually.

Applicants are invited to apply both as individuals or as nominees of a relevant sector organisation.  

Applications close on 31 August 2022. Successful membership applications will be confirmed by mid-September 2022.