Legislation and compliance news and guides for letting agents and estate agents

Keeping the lettings industry up to date with the latest on legislation and compliance in the private rented sector.

27 March 2020

Your guide to the Coronavirus Job Retention Scheme

All UK employers can take advantage of the Coronavirus Job Retention Scheme, and claim up to 80% of employees’ wages when they’ve been furloughed due to coronavirus (COVID-19).

25 March 2020

Agencies should not open: Guidance on business and premises closures

All non-essential premises must now be shut, including agencies, following guidance from the government on business and premises closures to prevent the spread of coronavirus (COVID-19).

18 March 2020

Legal ramifications for lettings of coronavirus: Q&A with DAS LAW

Simon Richards, Senior Associate with DAS Legal, answered questions on the legal implications for lettings of the coronavirus (COVID-19) pandemic in a Goodlord webinar.

18 March 2020

Your guide to the Homes (Fitness for Human Habitation) Act 2018

The Homes (Fitness for Human Habitation) Act 2018 requires all landlords to ensure that their rental properties are fit for human habitation at the beginning of the tenancy and throughout. 

24 February 2020

Your guide to mandatory client money protection for letting agents

It has been mandatory for letting agents in England to belong to a client money protection scheme 1st April 2019 in order to safeguard the funds of their landlords and tenants.

17 February 2020

What is customer due diligence and how do you apply it?

Customer due diligence means not only verifying that your customers are who they say they are, but also having an understanding of the purpose and intended nature of their relationship with your business.

12 February 2020

How could climate change affect your agency in the next decade?

Climate change regulations will likely have a significant impact on legislation of the private rented sector in the next few years, with Minimum Energy Efficiency Standards just the first in a series of regulations to help the UK reach net zero emissions. 

20 January 2020

Brexit: How will the transition period affect your lettings agency?

When the UK leaves the EU on 31st January 2020, it will enter an 11-month transition period, designed to provide time for the details of the new relationship between the UK and the EU to be agreed.

15 January 2020

Your guide to risk assessing your agency for money laundering with free template

Businesses that are regulated by money laundering legislation need to carry out a risk assessment, to identify where they could be at risk of being used for money laundering. Use our free template as the basis for your agency's risk assessment.

16 December 2019

What happens now? Lettings legislation after the election

The government is likely to forge ahead with its “better deal for renters”, including abolishing Section 21.

Your guide to the Coronavirus Job Retention Scheme

Posted by The Goodlord team on 27 March 2020

This article was last updated on 1 June 2020. Although we endeavour to keep our coronavirus (COVID-19) content as up to date as possible, the situation is rapidly changing, so please ensure you refer to gov.uk for the latest advice and information.

The government is making changes to the Coronavirus Job Retention Scheme. From 1 July 2020, businesses can bring back furloughed employees on a part-time basis. From August 2020, the level of government grant provided through the will be slowly tapered. That means that for June and July the government will continue to pay 80% of people’s salaries. In the following months, businesses will be asked to contribute a "modest share" of their employees' wages. The scheme will close to new entrants on 30 June, with the last three-week furloughs before that point commencing on 10 June.

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Topics: Compliance

Agencies should not open: Guidance on business and premises closures

Posted by The Goodlord team on 25 March 2020

This article was updated on 30 March 2020. Although we endeavour to keep our coronavirus (COVID-19) content as up to date as possible, the situation is rapidly changing, so please ensure you refer to gov.uk for the latest advice and information.

All non-essential premises must now be shut following guidance from the government on business and premises closures.  Further guidance on managing house moves during the pandemic reaffirmed that "agents should not open branches to the public during this period, or visit people’s homes to carry out market appraisals" and that "agents should ensure that employees can work from home, to support existing clients and advise potential new clients." The measures, which came into force on 23 March 2020 to prevent the spread of coronavirus (COVID-19), will be reviewed three weeks from this date. 

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Topics: Compliance

Legal ramifications for lettings of coronavirus: Q&A with DAS LAW

Posted by The Goodlord team on 18 March 2020

This article was originally published on 25 March 2020. Although we endeavour to keep our coronavirus (COVID-19) content as up to date as possible, the situation is rapidly changing, so please ensure you refer to gov.uk for the latest advice and information.

Simon Roberts, Senior Associate - Solicitor Legal Advice - with DAS Law, part of the DAS UK Group, joined Goodlord for our Coronavirus and lettings webinar on 17 March. He answered questions about the legal implications for letting agents and landlords of the coronavirus (COVID-19) pandemic.  

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Topics: Compliance

Your guide to the Homes (Fitness for Human Habitation) Act 2018

Posted by Andrea Warmington on 18 March 2020

The Homes (Fitness for Human Habitation) Act 2018 applies to almost all tenancies from 20 March 2020. The Act, which amended the Landlord and Tenant Act 1985,  applies to both private and social rented housing, and requires all landlords to ensure that their rental properties, including common areas, are fit for human habitation at the beginning of the tenancy and throughout. 

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Topics: Compliance

Your guide to mandatory client money protection for letting agents

Posted by Andrea Warmington on 24 February 2020

It has been mandatory for letting agents in England who hold client money to belong to a client money protection scheme since 1st April 2019, in order to make sure that the funds of their tenants and landlords are protected.

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Topics: Compliance

What is customer due diligence and how do you apply it?

Posted by Andrea Warmington on 17 February 2020

Know your customer (KYC) checks, also known as customer due diligence, are an essential part of ensuring that your business is compliant with financial regulations, such as the Money Laundering and Terrorist Financing (Amendment) Regulations 2019.  Customer due diligence means not only verifying that your customers are who they say they are, but also having an understanding of the purpose and intended nature of their relationship with your business. In some situations, you may need to carry out customer due diligence on existing customers, or apply enhanced due diligence. If you have doubts about a customer’s identity, you must stop dealing with them until you’re sure.

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Topics: Compliance

How could climate change affect your agency in the next decade?

Posted by The Goodlord team on 12 February 2020

Minimum energy efficiency standards were just the beginning. The UK has passed legislation pledging to end its contribution to global warming by 2050. The target will require the UK to bring all greenhouse gas emissions to net zero by 2050, compared with the previous target of at least 80% reduction from 1990 levels. Net zero means any emissions would be balanced by schemes to offset an equivalent amount of greenhouse gases from the atmosphere, such as planting trees or using technology like carbon capture and storage.

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Topics: Compliance

Brexit: How will the transition period affect your lettings agency?

Posted by Andrea Warmington on 20 January 2020

The United Kingdom has left the European Union, marking the beginning of an 11-month-long transition or “implementation” period. The Government has ruled out extending the transition period beyond the end of 31 December 2020. The transition period is designed to provide time for the details of the new relationship between the UK and the EU to be agreed. The EU will not negotiate the details of new arrangements with the UK while it is still a member of the EU. 

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Topics: Compliance

Your guide to risk assessing your agency for money laundering with free template

Posted by Andrea Warmington on 15 January 2020

Letting agencies are now subject to money laundering legislation, under The Money Laundering and Terrorist Financing (Amendment) Regulations 2019, which came into effect on January 10, 2020.  Under the regulations, letting agencies who process agreements where, for a period of a month or more, the rent during at least part of that period is equivalent to a monthly rent of €10,000 or more, will need to meet certain responsibilities, including risk assessing their businesses to identify where they could be at risk of being used for money laundering.

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Topics: Compliance

What happens now? Lettings legislation after the election

Posted by The Goodlord team on 16 December 2019

The government is likely to push ahead with its plans for a “complete overhaul” of the private rented sector, after the Conservative party won a majority in the general election of December 2019.

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Topics: Compliance

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