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Compliance simplified: annual client account inspections
In the fast-paced world of property management, letting agents face a myriad of challenges, with client money management sitting high on the list of priorities. Ensuring the safety and transparency of client funds is not only a legal obligation; it’s good business practice.
The Chancellor needs to act on the closure of pooled client accounts
Following a series of high-profile account closures, Propertymark has written to the Rt Hon Jeremy Hunt MP highlighting the ongoing issues and pushing for action from the UK Government to find solutions that reduce barriers for letting agents to operate.
Compliance basics should not be ignored
The introduction of the Renter's (Reform) Bill resulted a lot of media coverage, with agents and landlords voicing valid concerns about the potential impact of future legislation on their businesses. However, it is important to note that the Bill has not yet become law and is still undergoing scrutiny and possible amendments.
No hiding for agencies that don’t have client money protection
Fines totalling £12,000 have been handed out to six letting agents in the London Borough of Haringey after a crackdown by Trading Standards.