On 10 January 2020 the Fifth Money Laundering Directive (5MLD) came into force in the UK. Our previous post can be read here. Unfortunately, despite coming into force more than 21 days ago we still do not have a guidance document. However, HM Treasury has issued a response to the 5MLD consultation which does have …
An Exeter lettings agent has been disqualified for 6 years after failing to safeguard more then £68,000 in tenancy deposits. The agency operated a custodial deposit scheme in accordance with the Housing Act 2004 and held the deposits on behalf of their landlords. However, from around June 2016 to April 2019 the agency failed to …
The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 have now been published by the Ministry of Housing, Communities and Local Government. The Regulations will apply in England only and need to be approved by Parliament before they come into force on 1 June 2020. Once they are in force the Regulations …
On 10 January the fifth money laundering directive came into force in the UK. Our previous detailed post can be read here. We were hoping for a guidance document to assist with a further post but unfortunately the wait continues. With that in mind we can only give brief details of the legislation and what …
Last month Whirlpool announced a product recall for washing machines manufactured under the Hotpoint and Indesit brand names between 2014 and 2018. Product recalls are usually announced by large companies when there is a genuine problem with the products that have been sold or being sold by major high street or online brands. Whirlpool is …
The Tenant Fees Act came into force in England in June 2019 but only applied to tenancy renewals and new tenancies. In June 2020 it will be extended to apply to all tenancies, that is tenancies which commenced prior to 1 June 2019. Our previous posts can be read here. The Act bans landlords and …
Since April 2018 private rental properties could only be legally let to new tenants if they had a minimum energy efficiency rating of E (unless exempted). Our previous posts can be read here. On 6 April 2018 the minimum energy efficiency standard came into force. This meant that only properties with a minimum EPC rating …
The grace period for letting agents to open client accounts for clients’ money will end on 31 March 2020. On 1 April 2019 the Client Money Protection (CMP) Regulations came into force. These Regulations required lettings agents to become a member of a government backed client money protection scheme. However, some schemes were empowered to …
A post that we originally published on 21 August 2018 for all to digest over the festive period once again. Landlords and agents who process personal data (for example of tenants) must register with the Information Commissioners Office (ICO) and pay the necessary fee. Landlords who rent out property even where there is only one …
Registering with the Information Commissioners Office Read More »
On 10 January 2020 the 5th money laundering directive (5MLD) will come into force in the UK. The government is obligated to do this despite Brexit. The 5MLD was introduced following a review of the 4th money laundering directive. It is hoped that the 5MLD will further strengthen transparency and counter-terrorist provisions. Despite Brexit, the …
The Conservative party appears to have made a U-turn on rent controls following comments made to a newspaper by the Housing Secretary. The Housing Secretary, Robert Jenrick revealed this week in an interview with i newspaper that the Conservatives will now consider limited controls on rent rises. This is contrary to what he said at …
On 1 January 2020 new legislation regarding septic tanks will come into force. The new rules which were introduced in 2015 are designed to stop the practice of septic tanks discharging directly into local watercourses such as streams or rivers. The rules apply to existing treatment systems (in use before 31 December 2014) and new …
A London landlord who let out properties in Euston and King’s Cross has been banned for 4 years and fined £29,000. A 45 year old London landlord who was subletting properties to young and foreign professionals has been banned from letting further properties for 4 years. The ban will commence in March 2020 and should …
In Regency (UK) ltd v (1) Albu-Swalin and (2) Heartland Property Ltd, a Tenant that was unlawfully evicted was awarded damages of £19,000. The judge was entitled to decide how to calculate the damages which in some respects was in line with case law. Regency let flats to Heartland, who then sublet them to individuals. …
This is the second post on the election manifestos. This post will look at the Labour policy for the Private Rental Sector. Fines and Rent Repayment orders A new ‘charter of renters’ rights’ is proposed in order to put power in the hands of tenants. The Labour party propose a new national ‘property MOT’. This …
Now that we are in the middle of an election private rented sector news appears to have quietened down save for the parties’ manifestos. PainSmith is not endorsing any one party however it is important that the sector is aware of what a party may plan if it forms the next government. As such this …
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