FAQs: Economic Crime and Corporate Transparency Act 2023

Propertymark works to ensure our members understand the full extent of their legal obligations, and for letting agents this includes tenancy deposit protection. The Siddeeq v Alaian court case highlighted concerns about how and when prescribed information must be served, and with the implementation of the Renters’ Rights Bill on the horizon, it’s a relevant reminder that agents must be precise and compliant when dealing with tenancy deposits in England and Wales.

Property agents and landlords across England and Wales are increasingly facing prolonged delays when attempting to evict problem tenants—an issue being described as a postcode lottery due to the inconsistent and regionally varied response times within the County Court system. In response, the High Court Enforcement Officers Association (HCEOA), in partnership with Propertymark and other stakeholders, have launched a campaign to speed up possessions, calling on landlords to consider High Court enforcement as a more efficient solution in the most severely affected areas.

Propertymark has submitted a response to the House of Commons Public Bill Committee's call for evidence on the Bill, focusing on key areas that affect the property sector, particularly anti-social behaviour (ASB) and the protection of vulnerable tenants from exploitation such as cuckooing and county lines activity. Our key message is clear: no matter how strong the tools , they will only work if landlords and property agents are informed and engaged in the implementation.

The Digital Markets, Competition and Consumers Act (DMCC Act) was enacted on 24 May 2024 and provides regulation of competition in digital markets, amending the Competition Act 1998 and the Enterprise Act 2002 and encompassing the protection of consumer rights and other related rights.