Rent arrears and Right to Rent checks causing huge stress to UK landlords
According to a new report, Right to Rent legislation is the number one stress for over a third of buy to let landlords.
Conducted by an online letting agent, their study also reveals that only rent arrears and sorting out property repairs are voted as more stressful that the new immigration checks.
Understandably those that are suffering the most are high immigration areas, such as London, the South East, the West Midlands, the East of England and the North West. Furthermore, landlords are concerned that they are paying over the odds for all the reference checks they must now undertake to fully comply with the latest legislation.
Back in April MPs approved measures to the Immigration Bill that relax the initial threat of ‘immediate criminality’ for letting agents or landlords waiting to evict illegal immigrants from their properties. The change came after the original wording of the legislation meant agents and landlords would face immediate fines upon the discovery that they’d failed to make sure their tenants had the right to rent property in the UK, before having the chance to evict them.
Since the implementation of Jumio’s Netverify, Right to Rent ID checks have not only increased at LandlordReferencing.co.uk, but our landlord members referencing process has also become much more cost effective, quicker and easier to perform; ensuring their tenants are indeed who they say they are.
“At Tenant Referencing UK we’re all about giving our letting agents and landlords peace of mind that they are complying with the new regulation while also delivering a faster and easier ID check for their tenants. Helping landlords and letting agencies verify the veracity of their tenants’ documents can be a challenging work. Jumio’s Netverify offers LandlordReferencing.co.uk the in-depth expertise needed for performing checks of IDs from over 130 countries without hindering the user experience.” said Paul Routledge, CEO at LandlordReferencing.co.uk.
Our Unique Landlord & Letting Agents Packages Offer Our Members Unparallelled Protection. So please Join Us Today for all your Referencing & Insurance needs.