The last couple of months have seen a significant increase in activity, primarily in four key areas
- Money laundering regulation and the changes in regards sanctions checking and reporting for letting agents.
- The introduction of the Digital Markets, Competition and Consumers Act and its impact of material information provision and consumer protection. See here:
- The impending Renters Rights Act legislation that will dramatically the residential lettings landscape.
- The introduction of new Energy Performance Certificate criteria that will impact many properties being let or for sale. See here:
I run regular training courses on many areas of legislation and have updated my Money Laundering Regulations sessions to incorporate the changes. I have, in addition, created a new Consumer protection, material information and DMCC Act course, the first of which is booking for 18th June – See here:
All of my open training courses on compliance, business and people management and sales skills can be found and booked here
I have also received a number of requests from individual businesses for courses and have, in the last few weeks delivered sessions to over eighty staff at agents in North London and South West London and conveyancers in Surrey. One of these session was delivered online, the others were onsite and face to face.
I have also seen an uplift in activity around agents reviewing their compliance documentation and systems, often when HMRC have contacted them to carry out an audit.
Of course, I continue to work with a number of agents on their day to day businesses and have also successfully advised on the acquisition of one lettings business for a South Coast client and I am currently doing the same for another South Coast client on another lettings portfolio. It must be the sea air!
I have also helped a new Home Counties based lettings property management business become operational and ensure that their business plan, systems and documentation are both compliant and commercially sensible.
The Renters Rights Bill is moving towards completing its path through Parliament and agents must look at their terms of business and fee schedules as the incoming changes represent a huge threat to future business but, as always, a huge opportunity for those that pivot and adjust to meet the new order of things. See here:
The need for communication with landlords and tenants is vital and my Lettings Event in a Box is proving hugely valuable to those agents who are running events (both physical and by webinar) using the plans, documentation and content we provide – See here:
I have also recently been in close liaison with Simon Leadbetter of Unchained Marketing who is pulling together the latest version of his Voice of the Agent research.
If you would like to have your say – please complete the survey by clicking the link here:
I will be meeting with Simon and helping create some, hopefully, insightful and interesting content during June.
I also recently took part in the Pass the Syrup video podcast with Simon, Ben Madden and Angharad Trueman – this was fairly light hearted and should be appearing during June.
The last few weeks have seen me speak at two Propertymark Regional Meetings in South and North London and I have one more in West London in September. My presentation on how compliance can be used to create a more effective and profitable business has been well received and has, hopefully, opened a few eyes to seeing compliance as a “business enabler” rather than a “restraining force.”
July will see me, once again, participate as a member of the agent advisory panel for Propertymark : REACH
This is always an exciting day as we hear from innovative prop tech businesses about their products and services and help Propertymark decide if and how they continue as investors. Read more:
June will also see me at the Propertymark annual conference at Excel in London – #PMOne – where I will be representing The Propertymark Trust – if you are attending, please come along to our stand (1A) say hi and find out about the great work we are doing to support those who need our help. I look forward to catching up with friends from across the industry.
Finally, May saw Integra celebrate its 22nd birthday – during that time I have worked with over 1500 property industry clients. Thank you for your friendship and ongoing support.
Michael S Day MBA FRICS FNAEA FARLA
Managing Director
