Preparing for rental reform: why prescribed information still counts
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.
FAQ: Digital Markets, Competition and Consumers Act 2024 (Commencement No. 2) Regulations 2025
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.
Fact Sheet: UK Sanctions Reporting Obligations for High Value Dealers
Under the Sanctions and Anti-Money Laundering Act 2018, the UK Government introduced a new regime of issuing financial sanctions following the UK’s departure from the European Union. Under the Act, businesses specified in the Act have to report to Office of Financial Sanctions Implementation (OFSI) if they suspect they are engaging with a client who is under financial sanctions.
The CMA takes up the reins of consumer enforcement on 6 April, but what does it mean for property agents?
The Digital Markets, Competition and Consumers Act (DMCC), which passed into law on 24 May 2024, contains provisions to prohibit unfair commercial practices, replacing and updating the Consumer Protection from Unfair Trading Regulations 2008 (the 2008 regulations). The legislation hands direct enforcement powers to the Competition and Markets Authority (CMA), giving them the authority to act on breaches of consumer protection rules, including requirements for providing material information.
Warning over rent spikes in the vacuum between Cost of Living and Housing Bill
The Scottish Government is rolling the Housing (Scotland) Bill through the Scottish Parliament which will introduce new permanent rent control and adjudication regulations. However, between 31 March 2025 and the enactment of the Bill, there will be a period when rent assessments revert to pre-Cost of Living Act terms.
Lettings Spotlight: financial sanctions reporting obligations
Letting agency businesses across the UK need to work to a new framework from 14 May 2025 under the Sanctions and Anti-Money Laundering Act 2018, and it is vital that every agent understands the rules and adjusts working practices and systems accordingly. Through our vast network of members, some confusion has been highlighted around the rules, and we have produced resources to navigate the requirements.
Fact sheet: UK sanctions reporting obligations
Under the Sanctions and Anti-Money Laundering Act 2018, the UK Government introduced a new regime of issuing financial sanctions following the UK’s departure from the European Union. Under the Act, businesses specified in the Act have to report to the OFSI if they suspect they are engaging with a client who is under financial sanctions.
Extended Ivory Act regulations will take effect on 28 January 2025
Trading in ivory from the common hippopotamus, killer whale, narwhal and sperm whale will now be banned under The Ivory Act 2018 (Meaning of “Ivory” and Miscellaneous Amendments) Regulations 2025. The new legislation was originally laid in parliament in May 2023, under the previous UK Government, but implementation has been delayed due to a lack of parliamentary time.
New financial sanctions reporting obligations for agents
From 14 May 2025, letting agents, high-value dealers and art market auctioneers must make an official report to the HM Treasury Office of Financial Sanctions Implementation (OFSI) if they have evidence, or a reasonable suspicion, that a client has broken financial sanctions regulations. Propertymark promotes the important role property professionals have in preventing financial crime; however, it is disappointing that HM Treasury has not taken the opportunity to remove the anti-money laundering (AML) reporting threshold and simplify compliance for all agents.
Auctions to help solve problem of vacant commercial properties
Regulations come into force on 2 December 2024 which will allow local authorities in England to auction off the leases of persistently empty high street shops. The UK Government states that the scheme will breathe life back into town centres and drive local growth and opportunities. Propertymark welcomes the move, but we would like to see more detail on which areas will benefit the most, how the powers will be funded, and how they will be used in practice by councils.
Propertymark supports members as leasehold regulations come into force
From 31 October 2024, Part 5 of the Building Safety Act 2022 will be updated to clarify landlords’ responsibilities for remediation, to make remediation orders more effective, and to provide more detail about who can be required to contribute to the cost of remediation works. The UK Government is committed to enacting the legislation and has indicated that work to formulate further regulations is in progress.
Fact sheet: Renters’ Rights Bill
The Bill was published on 11 September 2024 with the aim of changing the law about rented homes in England. The legislation will abolish fixed term assured tenancies and assured short hold tenancies, whilst delivering on the Labour Party’s manifesto commitment to transform the experience of private renting—including by ending Section 21 ‘no fault’ evictions.
FAQs: Renters’ Rights Bill
The Bill aims to reform rental laws in England. It includes protections for tenants against unfair rent increases, clearer grounds for eviction, and the introduction of a landlords’ ombudsman service. The Bill also addresses rental discrimination, the right to keep pets, and enforces the Decent Homes Standard.
Fact sheet: Smoke, heat and Carbon Monoxide alarms (Northern Ireland)
The Regulations introduce requirements for all private tenancies in Northern Ireland to have sufficient smoke, heat and carbon monoxide alarms in the property. It is the first piece of legislation covering sections seven to twelve of the Private Tenancies Act (Northern Ireland) 2022—specifically section eight: Fire, smoke and carbon monoxide alarms, etc.
Private Tenancies Act Section 8 coming into force on 1 September
The Smoke, Heat and Carbon Monoxide Alarms Regulations (Northern Ireland) 2024 set the standards for the number and type of alarms that must be installed in privately rented properties. Once they come into force, letting agents and landlords will be responsible for installing and keeping alarms sufficient in any property they rent out.
Fact sheet: Lead in drinking water
In Scotland, the Tolerable Standard states that properties should have an adequate piped supply of wholesome drinking water. Statutory guidance on the Repairing Standard, which came into effect on 1 March 2024, now specifies that the property should be free of lead pipes from the boundary stopcock to the kitchen tap.