Landlords: Stay On The Right Side Of Regulation
Lucie White, founder of Lucie White & Company, looks at the need for landlords to comply with all the new rules
When I started as a letting agent the industry was very different, you just needed a bucket load of enthusiasm and a computer to produce the documents. That was the 1990s! Since then the industry has seen so many changes. The biggest challenges facing landlords today are the huge number of legislation changes, and we have seen an unprecedented amount over the past twelve months. The changes are happening fast and are happening now!
No matter the size of your portfolio or reason for letting, when you sign that tenancy agreement you become a landlord. With that, you also become responsible for complying with a stack of rules and regulations.
For some, being a landlord is a chosen path; a career entered into with eyes wide open and the appropriate amount of knowledge. For others, it’s a role they have fallen into almost by accident – perhaps as the result of holding onto a previous residence or as part of retirement planning. Often it is something that is undertaken alongside the ‘day job’, or juggled with raising a family and looking after a main home. If you fall foul of the regulations and legislation you can ﬁ nd yourself at the other end of a hefty ﬁne at best and court action at the worst.
In 2020, we are actively encouraging landlords to consider the fully managed service. Contrary to popular belief, property management needn’t be expensive; most of our clients pay no more than they would for their daily cappuccino. For that, their investment is looked after by someone who has the right knowledge and experience, who can devote the necessary time and attention.
The Lucie White & Company team has over 74 years’ combined experience of the lettings industry, it’s our job to stay up-to-date with legislation; that way, you can relax in the knowledge that your properties and tenants are taken care of.
If you need help, get in touch for a no obligation chat and we’ll get you on the right side of legislation.