Why it’s important to let property through a reputable agent 29 Aug 2021
Analysis on the Mayor of London’s Rogue Landlord and Letting Agent Checker (RLAC) shows a huge increase in enforcement activity, with total fines between mid-June and mid-July reaching £139, 146 which is more than double the mid-point figures taken in June, and over 3 months that’s a combined increase of 532%.
Throughout the pandemic, enforcement has been reduced due to the pressure councils have been put under with tight budgets, reduced staff due to illness and isolation, and needing to work around the general pandemic guidelines. But these figures show that over the last month especially, there has been a marked increase in enforcement levels.
What does this mean for landlords?
Both landlords and letting agents are at risk from fines, by not adhering to regulations and legislation. The level of regulation in the private rental sector is higher than it’s ever been before, and it’s critical for anyone responsible for letting property to be aware of and follow all relevant requirements – being ignorant of any changes to an already complex amount of legislation is not a good enough defence against being fined.
Councils are responsible for enforcing their own regulations, so landlords and agents need to be aware of every small change to the rules, and be one step ahead to ensure compliance. If you struggle to keep up with legislation changes, but don’t want to be caught out by fines (the largest landlord fine issued so far amounts to £100,000) then there’s your reason for finding an agent who will be doing the leg work for you, because that’s what they do best.
Our landlords instruct us to manage their properties so we can keep on top of requirements and act for them accordingly, to remove the threat of fines, and give them ultimate peace of mind that their property is being managed for them.