
Legal help, services and support for private residential landlords
This is just a quick post to notify members that, from today, new money laundering regulations apply:
If a guarantor is going to pay rent directly or engage with the agent or landlord during the tenancy, they must also be checked.
The fines for non-compliance are eye-watering, so it is really important that all landlords and agents comply.
It’s not entirely clear if the regulations apply to landlords. Some people say they do and others say they only apply to agents. However, if sanctioned individuals are found living in your property, you could still get fined. Particularly if you have ignored suspicious behaviour.
It does not take much time to check names against the sanctions list and keep a screenshot of the search results. Why risk it?
We have done a new FAQ, which has more information, and where you will find links to relevant government pages.
For more information and guidance, we suggest you speak to your accountants, who may provide services to help with this
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Tel: 01603 763096
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Tessa Shepperson of Landlord Law is an accredited trainer with the
Property Investors Bureau.
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