Deadlines, deadlines, deadlines.
That’s the story of the private rented sector this month, with important dates for sanctions checks and EICR certificates on the horizon. Unless there are any major surprises, the Renters’ Rights Bill should also pass the committee stage in the House of Lords, as the landmark legislation edges towards Royal Assent.
What you need to know about the May 14 sanctions deadline for agents
From May 14, the government has decided that letting agents will be classed as a “relevant firm” under the UK’s sanctions regulations. This means we’ll have a legal obligation to report any confirmed or suspected sanctions breaches to the Office of Financial Sanctions Implementation (OFSI). To make these reports, we must check every prospective tenant and landlord against the UK sanctions list.
“Prospective” is the key word here. As we already have a working relationship, we’re not legally obliged to perform a sanctions check on you, as the regulation isn’t retroactive. However, we may still screen you at some point to ensure all of our i’s are dotted and all our t’s are crossed from a compliance perspective. If this happens, you’ll have a soft footprint on your credit report notifying you of a check, but this footprint won’t affect your credit score.
Please reach out to the Revive Property Sales and Lettings Limited team if you have any questions or concerns about this, and we’ll be happy to provide guidance.
EICR certificate renewal deadline fast approaching
June 2025 marks five years since Electrical Installation Condition Report (EICR) regulation was introduced, meaning many certificates are set to expire. Apart from the obvious risk of putting the property and tenants in danger, there are severe penalties for landlords for non-compliance, including fines of up to £30,000, and in some extreme cases, criminal charges.
Rest assured, the Revive Property Sales and Lettings Limited team has you covered. We’ll get a slot booked in with an accredited inspector at a time that works for you and/or your tenants to keep you compliant.
Renters’ Rights Bill committee stage (House of Lords) continues
The April 22, 24, and 28 committee sessions in the House of Lords are now complete, with three more dates remaining on May 6, 12, and 14. Here’s a quick breakdown of the amendments discussed so far, and the Government’s response:
- Baroness Scott of Bybrook and Lord Young of Cookham proposed delaying the abolition of Section 21 until the court system can handle increased possession cases. However, the Government rejected these amendments, emphasising ongoing investments in court digitisation to manage the anticipated caseload.
- Peers argued for a continuation of periodic tenancies, especially for student accomodation. However, the Government rejected these amendments, emphasising the flexibility of periodic tenancies.
The Government is likely to continue rejecting any proposed amendments to the abolition of Section 21 or periodic tenancies and the Bill will look very similar to how it did when it was first proposed last year.