The 5th Directive - Anti-Money Laundering
As from the 10th January 2020, all letting agents who manage properties which, INDIVIDUALLY, have an income of 10,000 Euros or more per month, must now comply with regulations set out in the 5th Money Laundering Directive.
From May 2020, all letting agents across the UK have 12 months to register with HMRC if they sit within the requirements set out above. Even though the registration portal is not yet available, Customer due diligence (CDD) checks must be carried out new tenants and landlords on or from 10th January 2020. This process will also apply any existing tenancy is renewed after this date, meaning that letting agents will need to carry out CDD checks at that point .
The Renter’s Reform Bill - An Overview
The Queen’s Speech last month confirmed some quite significant plans to further change the housing sector. These reforms affecting England, were announced on the 19th December, further cementing the Government’s intention to herald a new style housing sector.
The key elements of the Bill aim to restore a balance and fairness between landlords and tenants.
Nine Ladies, Children, Elderly, Young, Disabled, Dancing - The Importance of Equality
The Equality Act is relied upon and used in every sphere of our daily lives, it’s prevalent wherever we work or live.
The definition by the Oxford English Dictionary is -the fact of being equal in rights, status, advantages, etc.racial/social/sexual equality, equality of opportunity, the principle of equality before the law (= the law treats everyone the same)
The Equality Act of 2010 brought together over 116 separate pieces of legislation into one single Act. The Act provides a legal framework to protect the rights of individuals and advance equality of opportunity for all. It provides Great Britain with a discrimination law which protects individuals from unfair treatment and promotes a fair and more equal society.
Eight Maids sharing a flat would be a Breach of HMO Regs if they are not related
A house in multiple occupation (HMO) is a property rented out by at least 3 people who are not from one ‘household’ (for example a family) but share facilities like the bathroom and kitchen. A landlord who wants to let a property as an HMO in England or Wales must contact the local authority to check if a licence is required. Easy to follow rules are as follows:-
a licence is required if rented to 5 or more people who form more than 1 household
A household is either a single person or members of the same family who live together. A family includes people who are:
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Married couples or couples living together as married (including people in same-sex relationships)
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Relatives or half-relatives e.g. grandparents, aunts, uncles, siblings, nieces, cousins
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Step-parents and step-children