Fixflo - Regulatory Changes Affecting Letting Agents and Landlords in 2020_Second Edition

2019 was a testing year in the private rented sector.
The Tenant Fees Act of 2019 came into force in June.
This complicated piece of legislation was the center
of much controversy. According to our recent
industry report, 98% of letting agents surveyed
reported that they had lost revenue due to the
tenant fee ban, with one-fifth of them recording
more than a 20% dip in revenue. As a result, many
landlords faced increased fees for agency services.
The Tenant Fees Act 2019 was not the only change
seen in 2019. The Homes (Fitness for Human
Habitation) Act 2018 came into force in March and
The Property Ombudsman also updated its Code
of Practice concerning letting agents. Whilst these
were welcome, positive changes aimed at raising
standards in rental properties, it is also undeniable
that letting agents and landlords had plenty to
study to remain completely compliant. Attached is a downloadable PDF document that may be of interest.

Click for free downloadable document!