New Reporting Obligations Additional financial reporting obligations come into force for letting agents on 14 May 2025. These changes, form part of what will be extended anti-money laundering rules (AML), have been introduced by HM Treasury Office of Financial Sanctions Implementation (OFSI). The changes mean that, as “relevant firms”, letting agents (who carry out “letting …
Read more >Becoming a landlord has a lot more legal responsibilities than most people think. There is more complexity required than just collecting rent and finding tenants. A landlord has a legal responsibility to keep the properties compliant and within the Repairing Standard. If these requirements are ignored the repercussions for a landlord can be serious, resulting …
Read more >At the start of December, it was the social housing sector that was in the spotlight as the Local Government, Housing and Planning committee considered evidence on the actions and efficacy of the Scottish Housing Regulator. One of the outcomes of the work of this committee is an amendment to the Housing Bill tabled by …
Read more >As the legal, regulatory and professional landscape in Scotland continues to evolve, this can be demanding for many letting agents, especially for those operating their own business. This is because there are numerous challenges such as navigating difficult legal and regulatory frameworks like the Private Residential Tenancy system, the Letting Agent Code of Practice, and …
Read more >In December 2024, the Scottish Government announced a significant change to the Additional Dwelling Supplement (ADS), increasing it from 6% to 8%. This adjustment marks a notable shift in Scotland’s property market landscape, affecting buyers of additional residential properties, such as second homes or buy-to-let investments. The change is part of a broader strategy to …
Read more >The most recent statistical analysis of the work and the case load of the First-tier Tribunal: Housing and Property Chamber (HPC) which covers the period 1 April 2022 to 31 March 2023 has been released recently and makes interesting reading. The full publication can be found here. What volume of cases were received? The HPC …
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