Money Laundering Regulations

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  • Money Laundering Regulations

    Hello
    I am a letting agent and I was just wondering what procedures other letting agents have put in place regarding money laundering for both tenants and landlords and is it a legal requirement to carry out such checks (I was under the impression it was just for sales)?

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  • Claiming for protected deposit
    mandm
    This is an interesting one, got me into a spin.
    Tenants signed AST but decided to leave after 6 months and 3 days (problem with moving) using the break clause in the AST. I protected the deposit using DPS (Insured) and returned the deposit minus deductions when the moved out.
    I served the...
    21-07-2017, 08:00 AM
  • Reply to Claiming for protected deposit
    mariner
    It was the situation predicted by some Judges et al when it was first proposed that the full Penalty would be awarded to the T and not the Exchequer.
    22-07-2017, 01:16 AM
  • Reply to Claiming for protected deposit
    JK0
    I agree. It's almost at the level of scandal as the people claiming cash by pretending they were ill on holiday. In that case, the Spanish Hotels have told tour operators they won't be doing all inclusive holidays any more.

    Therefore, I suggest landlords take a page out of their book, and...
    21-07-2017, 22:22 PM
  • Reply to Claiming for protected deposit
    mandm
    Letter sent with the evidence attached.
    Slightly off topic, it seems there this deposit protection appears to have gathered conflicting views.
    I would have thought that the purpose of the legislation was the protection of T's money, which most law-abiding landlords do but it seems that its...
    21-07-2017, 21:20 PM
  • Landlord threatening to sue after end of tenancy
    Pickle135
    Our tenancy has just ended. We have cleaned the property from top to bottom using professional cleaners to do this and clean the carpets. He suggested this hadn't been done and wanted the name of our contractor to check which we gave him. The contractor assured him that after eight years the carpets...
    08-03-2017, 00:45 AM
  • Reply to Landlord threatening to sue after end of tenancy
    Pickle135
    Woohoo!

    Our adjudication has just come through and the landlord has been given a token payment with the majority of our large deposit being returned to us. He was told that he had not submitted appropriate evidence for the misuse of the property and that things he was saying were wrong...
    21-07-2017, 20:49 PM
  • Deposit at the end of AST. Also, quiet enjoyment.
    scooter08
    Q1 – Where is the rented property located (England / Wales / Scotland / N Ireland)?
    England

    Q2 – What type of Tenancy Agreement (TA) is this e.g. sole tenant / multiple tenant / room only?
    AST

    Q3 – What date did current TA start dd/mm/yy?
    12/04/2015
    ...
    21-07-2017, 15:06 PM
  • Reply to Deposit at the end of AST. Also, quiet enjoyment.
    scooter08
    Thanks for the reply jp....
    21-07-2017, 18:32 PM
  • Reply to Deposit at the end of AST. Also, quiet enjoyment.
    jpkeates
    Makes sense - if the tenancy agreement doesn't say you have to let him and a surveyor in, his only right of access is with 24 hours written notice for the purpose of viewing the "condition and state of repair" of the property.

    So you can simply decline or make your point.
    ...
    21-07-2017, 18:23 PM
  • Reply to Deposit at the end of AST. Also, quiet enjoyment.
    scooter08
    I'm not trying to claim for breach of quiet enjoyment. He wants to be in again with a surveyor to use his property as security for something. I am going to let him I just want to remind him and have all the facts. Sorry if I didn't explain it right.

    Only claiming for the non protection...
    21-07-2017, 18:08 PM
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