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ARLA Propertymark has launched a new database with GetRentr which will allow buy to let investors to check the status of licensing schemes in their local area.
GetRentr is a technology platform which automatically monitors property portfolios for compliance with any active UK property licensing schemes. In today’s increasingly regulated buy to let landscape this could be a crucial tool for landlords.
The service is free for all ARLA Propertymark members and will hold information on new licensing schemes which come into practice in the next month as well as those which are ending this month and those which local authorities are consulting on and will come into effect in the future.
Those using the database will be able to check the status of licensing schemes in their local area. This will enable them to understand which ones they need for themselves and landlords.
Chief executive of ARLA Propertymark, David Cox said: ‘There are hundreds of laws with which letting agents and landlords need to comply, and new licensing schemes are being introduced on an almost weekly basis, so it can be difficult to keep up. Those who aren’t compliant risk breaking the law, and could face banning orders, or fines of up to £30,000. This new database, available to all members, will help agents mitigate these risks and comply with the ever-changing law.’
Chief executive of GetRentr, Orla Shields, added: ‘While property licensing was introduced to raise rental accommodation standards, the proliferation to c.540 independent property licensing schemes has brought with it a huge administrative burden for landlords and agents. Remaining compliant is a never-ending task as new consultations or schemes can come into effect at any time, meaning compliance today does not guarantee compliance tomorrow. We’re really excited about our partnership with Propertymark as it will help protect agents from increasing fines, and ultimately help improve safety standards across the PRS.’