Lettings businesses that are subject to money laundering legislation need to register with HMRC by 10 June, or risk a penalty, in addition to carrying out a risk assessment and customer due diligence to be compliant with The Money Laundering and Terrorist Financing (Amendment) Regulations 2019.
From 1 August 2021, the notice period for cases where there are less than 4 months of unpaid rent, reduced to 2 months’ notice. Notice periods for the most serious cases are lower, with most requiring 2 or 4 weeks’ notice.
England, Scotland, and Wales each enacted legislation during Covid-19 to protect landlords and tenants, much of which is soon coming to an end - including the stamp duty holiday, evictions ban, and six-month notice periods. Here are the key dates that estate and letting agents and landlords need to know to stay compliant.
Lee Redfearn, Insurance Development Manager at Goodlord, shares how and why the insurance claims process has increased in recent times, plus some updates on the latest lettings legislation and how this is affecting the insurance landscape.
The Government has announced it will reveal its plans to abolish Section 21 of the Housing Act 1988 under the Renters' Reform Bill in late 2021, including the results of its consultation.
The Government's key proposals for strengthening Section 8 when Section 21 is abolished include improving or widening the current grounds for repossession, including when a landlord wants to sell a property and if their family members want to move into a property.
"Lifetime deposits" or "deposit passporting" looks set to become a reality under the Government's Renters' Reform Bill, with the proposals to be outlined in late 2021, but there are a number of operational and financial issues that would need to be resolved before they are introduced.
The Queen's Speech confirmed that the Renters' Reform Bill is back on the agenda for 2021, with consultation response on the proposals, announced in 2019, to be published in the autumn.
Changes to right to rent checks for citizens of the EU, Switzerland, Norway, Iceland, and Liechtenstein are expected after 30 June 2021, according to current government guidance.
The mediation pilot, announced in February 2021 as part of the court process for housing possession cases, has now closed. Here are the key details that you and your landlords should know.