16th
Aug 2021
Agents and landlords’ fines across Greater London have rocketed from only £22,000 in May to a massive £139,146 in July.
Some of the upsurge may be because of increased court hearings due to Covid restrictions being lifted, however a PropTech firm whose figures highlight the ‘soar, claims it is also because authorities are massively stepping up their actions on Rent Repayment Orders and other fines far more aggressively than ever.
The firm has scrutinised Sadiq Khan’s London Rogue Landlord and Letting Agent Checker and states that since it was first introduced in 2018, more than £6.5m in fines have been levied against agents and landlords.
The biggest ever recorded single fines are £167,000 for a letting agent and £100,000 for a landlord.
All local authorities have been hit hard by governments reduction in funding and of course the pandemic has further impacted councils’ budgeting for housing and ‘ensuring’ BTL residences are fit for purpose.
A spokesperson for the PropTech firm said: “Whilst the pandemic seems to have reduced enforcement levels, it did not slow the level of regulation which is higher now than at any time before. With a complex web of regulations now governing the sector and growing levels of enforcement, it is business critical that both agents and their landlords stay on top of compliance requirements”.
Tower Hamlets council just by itself has issued agents and landlords with nearly 70 Rent Repayment Orders and clawed back around £200,000 in rent for tenants.
The spokesperson added: “As has recently pointed out, it’s right that councils enforce their own regulations, which otherwise would be a tax on good landlords, with rogue individuals continuing as before. The danger is that good landlords and letting agents offering high quality homes to market could still get caught out by a change in regulation. With tenants acting as enforcers, agents and landlords have to stay one step ahead.”
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