New Sanctions Checks from 14 May 2025?
Does anybody have a definitive interpretation of the new regulations? These are for Agents to do checks on Tenants and Landlords.
However, it appears to cover only New Tenants and New Landlords, which they call Prospective. If I have been with an agent for several years, do they need to retrospectively check me?
If the tenant has been there for 4 years, do you need to retrospectively check the tenant? Or does it only reply to new tenancies and new Landlords coming to a new Agent?
The Gov website: https://www.gov.uk/government/publications/financial-sanctions-guidance-for-letting-agents/financial-sanctions-guidance-for-letting-agents
Section 4 clearly states: Instructions from prospective landlords or prospective tenants. As an existing Landlord, I would not be a new prospective landlord to my agent? Any ideas?
Or is this just another regulation we have to jump through?
I presume from an agent’s point of view, they would want to check all their clients?
Some say it applies some not?
Bryan
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Member Since May 2015 - Comments: 2203 - Articles: 2
10:04 AM, 21st July 2025, About 9 months ago
Check, check and check again even if you do not think it is necessary: the minimum fine is a million pounds.
Member Since October 2023 - Comments: 70
11:52 AM, 26th July 2025, About 9 months ago
I believe that prospective should be interpreted as… At the point at which you are asking the agent to let a property.
If you have a tenant and all the agent is doing is managing the rental, that won’t trigger the requirement, but if your tenant leaves and the agent now has to find you a new tenant, you have become a prospective client and they need to check you on the list.
That said, it’s a free online check so many agents will check all their landlords.