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The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Paperwork Paperwork Paperwork

Sally Lawson of Concentric Lettings comments

I was talking to a landlord at a networking event last week and he was explaining that he has no idea what all the fuss is about and how he gets his files and move-ins done in just 10 minutes, why on earth would he consider outsourcing this function?

This perplexed me because I know the high level of administration required to stay compliant, so I could not resist digging a bit further to see what it was he was doing in his 10 minute let file prep. He explained how he has used the same tenancy agreement for the last 10 years and he has never had a problem with it. He doesn't take deposits (he just takes rent in advance instead and uses that as a deposit) and the referencing consists of a letter from their employer that they bring in for him.

In my position its quite difficult to turn a blind eye to such errors in paperwork handling so I'm afraid I could stop myself from getting into a rather lengthy conversation about how he "should" be doing the pre move in paperwork...the problem is that this is a conversation I am having every week, to varying degrees, with landlords across the country.

From a landlords perspective the increasing burden of paperwork is becoming quite a chore and I can see why many have decided to take no or little notice of the new rules but the fines, prosecutions and potential criminal offences are getting heavier and more severe so landlords really do need to take note. 

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