FAQs: Economic Crime and Corporate Transparency Act 2023

Property agents will remain firmly on the frontline of the fight against economic crime as plans are afoot to strengthen anti-money laundering supervision, improve intelligence sharing and consider changes to the rules covering letting agents.

The UK Government has published details of its new ‘Register your rental property’ service, which will be introduced across England in stages starting this winter. Registration will begin in the West Midlands, with the rest of England following on a regional timetable. Propertymark is in continued contact with officials from the Ministry of Housing, Communities and Local Government (MHCLG) to clarify the role of agents in the process and to directly raise questions and concerns from our members.

Letting agents in Scotland should review their reporting, inspection, and repair processes after the Scottish Government published new guidance to support the Investigation and Commencement of Repair (Scotland) Regulations 2026, which come into force on 6 October 2026. The Regulations apply to private rented homes covered by the Repairing Standard, as well as relevant social housing.

The Online Procedure Rule Committee has published a draft practice direction for a new digital service for County Court possession proceedings in England and Wales. Letting agents are unlikely to use the service in its first phase unless they work with an eligible social landlord. However, the pilot signals the direction of travel for possession proceedings.