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Compliance

Register Your Agency With HMRC

With just weeks to go until the deadline, letting agents must register themselves with HMRC to remain AML compliant. By June 10th 2021, any letting agent, residential or commercial who lets property at or above 10,000 euros or £8,600 or more per month must register. Of course these changes came in last year under the Fifth Money Laundering Directive bringing agents in line with estate agents, so many letting agents will already be compliant. Further information can be found on HMRC’s website – https://www.gov.uk/guidance/registration-guide-for-estate-agency-businesses. Registering an agency is much more than simply clicking register, agents must put certain documents in certain places in order to remain anti-money laundering compliant. As well as this, there are clear, defined procedures that need to be put in place in order for agents to remain completely compliant. Agents must be aware of customer due diligence, the roles and responsibilities of their staff, whilst an …

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Compliance

Section 8: What Do You Need To Update?

From Tuesday 4th May 2021, letting agents and landlords must have updated their Section 8 eviction notices to include details of the Breathing Space regulations. Agents must ensure the paperwork is up to date with the new Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium). Should a Section 8 fail to be updated, your eviction could fail in the courts, leading to tenants remaining in your property. Whilst updating your Section 8 paperwork is crucial, understanding the Breathing Space regulation is also vital. The main changes mean that people receiving debt advice can apply for a break for up to 60 days, this break can also take place under mental health grounds. Further information on the Breathing Space changes can be found on VTUK’s LinkedIn page – https://www.linkedin.com/feed/update/urn:li:activity:6795980731387641856. The good news is that our Openview property software has a full directory of legal documents at your fingertips, …

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Compliance

Right To Rent: What’s Changing On May 17th?

From May 17th 2021, Right to Rent Checks can be carried out in person as per the changes to the coronavirus restrictions. Previously, on March 30th 2020, restrictions were put in place for agents and landlords to carry out Right to Rent Checks via video link to the tenant. Should an agent or landlord have carried out a video link check between the 30th March 2020 and 16th May 2021, a repeat Right To Rent Check is not necessary as an online check via video call is suitable enough. From May 17th 2021, agents must either: Check tenants right to rent face to face, keeping a record of their original documents. Or Use the Home Office’s Right To Rent Online Service. This can be found at the link below – https://www.gov.uk/view-right-to-rent. Of course, keeping copies of these checks is vital in order to maintain compliance. With so many properties on …

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Uncategorized

Your Landlords Will Love You

The current pandemic has led landlords to fall out of love with letting agents. In a recent study out of 2,500 landlords, nearly “60% of landlords said they were less likely to use an agent in the coming months” (Landlord Zone, 2021). After discovering this research, we thought we’d put together some innovative marketing methods you can use to get your existing and new landlords loving you again. Organise A Seminar – If you haven’t organised one yet, a seminar is a great way of networking with your existing and new landlords whilst also showcasing your knowledge to potential landlords. As we’re in a pandemic, we recommend organising a virtual event where you invite landlords to network in a virtual Zoom or Microsoft Teams call. Think of an engaging topic such as a form of compliance a landlord may be interested in and conduct a seminar based on that. By …

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Prop Tech

Grow Your Business With CRM

CRM systems such as Openview can significantly help you as a property professional grow your business. Ultimately, there are two things growth comes down to, reducing costs and increasing revenue. It has never been such an important time for letting agents to utilise CRM, below we’ve examined what you can do. Value Think carefully about what separates you from the agent across the road? Offer customers value by delivering them services through your CRM. This doesn’t come easily, it’s vital you have a deep understanding of what your CRM can do to improve your business insight. One example of this is Openview’s repair reporting tool, Task Manager. By offering tenants the chance to report repairs instantly, online you’ll be defining yourself from the agent down the road who doesn’t have this service, whilst offering them value as you’ll be saving the tenant and yourself time. Industry leader, Peter Knight recently …

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Automation

What’s Taurus Automation?

Taurus is our automation system built to automate those business critical tasks. Click here to read more about Taurus or watch our videos below. Experiencing Problems With Your Property Software? Letting Agents Just Love Taurus Automate Anything? Discover Taurus Automation Software Estate Agents: What’s your Sales Pipeline? Limber Up? Meet Taurus Software for Estate Agents Connect Your Property Software With Taurus Exhausted? Save Time With Taurus Property Management Software Estate Agents: How Are You Communicating With Your Clients? Read the Reviews? Meet Taurus Business Automation Software Is Your Property Software Secure? Taurus Can Help… Find out more about Openview’s automation using Taurus, call 0800 328 0460, email info@vtuk.com or visit vtuk.com.

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