Compliance & It’s importance for your Letting Agency

Compliance features heavily on the list of priorities for the letting agent - with health and safety matters at the forefront of the duties letting agents must deal with. However, compliance must also be taken into consideration when dealing with administrative processes, ranging from AML checks to ensuring who ownership of the property is verified.

The reasons behind having strong systems in place to ensure that a letting agent is compliant are multi-layered and can raise concern if there are gaps in the letting agents processes. For example, the introduction of the Deregulation Act 2015 (1st October 2015), changed not only the section 21 notice template in England (the Form 6A was introduced), the additional documents required to ensure validity of the notice, as well as the period during which the notice could NOT be served, caused confusion and placed great emphasis on the importance of compliance and demonstrating to a very strong audit trail.