The Impact of Covid is not forgotten
Four years ago every aspect of our lives was tipped on its head.
Just like every other industry, the property sector faced challenges. As the pandemic took hold, the housing sector regrouped and forged ahead overcoming some of the most difficult obstacles ever faced. We forget just how tough it was and upon reflection everything else that’s been a problem, pales into insignificance. Change Management is a real thing and dealing with the pandemic and the consequences it threw at us demonstrated the ability to react DAILY.
#covid #pandemic #changemanagement #preparedness
Michael Gove confirms “No-fault evictions will be "outlawed".
This morning, Housing Secretary Michael Gove told Laura Kuenssberg of the BBC that ‘No Fault Evictions’ will be banned by the next general election.
It’s difficult to watch this play out in a “Ground Hog” kind of way because since the announcement was made in 2019 that Section 21 (Form 6A) notice would be abolished, nothing much has really changed.
Of course, the Renters Reform Bill which will serve as the vehicle to abolish the Section 21 notice, is currently at the Report Stage, but the government has clearly stated that a ban of the notice cannot be enacted until the court system is improved, something confirmed by Michael Gove last year.
When asked by Laura Kuenssberg if he could guarantee that ‘unlawful evictions’ would end by the time of the next general election, Mr Gove responded that: "We will have outlawed it and we will have put the money into the courts in order to ensure that they can enforce that." A woolly response that is most definitely not possible because reforming the courts will not be a quick fix.
A Reminder - Changes to UK Company Law
The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023 which introduced the biggest changes to Companies House since corporate registrations were established in 1844, gives Companies House the power to play a far more significant role in tackling economic crime, supporting economic growth, and making sure the UK is one of the best places in the world to start and grow a business.
Over time, the measures will lead to improved transparency and more accurate and trusted information on our registers. This will drive confidence in the UK economy, increasing the value of the register for businesses and citizens across the UK and beyond.
The measures include:
introducing identity verification for all new and existing registered company directors, people with significant control (PSCs), and those who file on behalf of companies
broadening our powers to become a more active gatekeeper over company creation and more reliable data
more reliable and accurate financial information on the register, which reflects the latest advancements in digital technology and enables better business decisions
providing Companies House with more effective enforcement powers, and increasing our ability to share relevant information with partners
enhancing the protection of personal information to protect individuals from fraud and other harms
Know Your Client - All about the Landlord
The private rented sector has evolved dramatically and as the industry has embraced technological innovations, systems and processes to ensure that all the necessary compliance is adhered to on behalf of landlords, yet there is one glaring problem that is not always properly addressed - identifying and verifying the legal owner the rental property.
Over the last 12 months we have conducted lettings audits which consist of a 40 point check list, some of which relate specifically to the property owner. Identifying the legal owner is of paramount importance, not just at the point of an audit, but more so when a landlord instructs an agent to act on their behalf.
Knowing the legal owner of a property is essential not only because letting out a property holds significant responsibilities and obligations, but also because the Due Diligence of ensuring who the legal owner is will avoid many serious disputes, in particular, fraud.