Any responsible lettings agency should always be thinking about the risk and compliance side of their business in everything they do. Granted, it's not the most exciting part of the job, but it's a vital one - if you don't stay compliant and begin operating, knowingly or unknowingly, outside the lines specified by government legislation, you could find yourself in a lot of trouble.
While, in most cases, only the severest cases result in prosecution and the possibility of custodial sentences, there are significant fines attached to most of the legislation you need to be wary of, as they could affect cashflows and revenue streams and be quite damaging for small businesses. For example, failing to carry out mandatory gas safety checks within a property when it is the agency's responsibility to do so can cost up to £20,000. This is not something you want to take any chances with.
It's important to remember, too, that landlords may not know about legislation that affects their properties, so it is up to agents to tell them. Not only does this prevent the possibility of falling foul of the law, but it also serves to demonstrate your value to them as far as your legal knowldge and expertise is concerned, which is something that many agencies are worried about.
However, with so much legislation being approved and passed every year, it can be difficult to keep up with it all and ensure that you're remaining fully compliant at all times. With this in mind, we've put together ten tips that you need to be aware of throughout 2018, which are free to download and cover everything you should be thinking about now (pending developments throughout the year, obviously). This way, you can ensure that nothing important has slipped through the cracks.
You can download the tips for free by clicking on the link below - if you have anything to add, please get in touch, we'd love to hear from you!