Landlords face considerable risks from self-managing their properties when the Renters’ Rights Bill goes live, according to a letting agent expert.  

With proposed changes giving greater enforcement powers to local authorities and expanded civil penalties, the team behind the Best Estate Agent Guide warns that failing to comply with new rules could lead to increased fines of up to £40,000.

National World reports that the new legislation - designed to improve the lettings system for both renters and landlords – means that once the Bill takes effect next year, it will be more important than ever for landlords to use an agent they can trust.

Difficult

Danielle Nash (pictured), managing director of the Best Estate Agent Guide, explains: “As a result of the volume of changes, including all tenancy agreements needing to be updated and reissued, it will be very difficult to stay compliant with the legislation without the support of a knowledgeable and experienced letting agent.

“Landlords not following the new rules could face penalties of up to £40,000 for major offences and repeat non-compliance. Using a qualified letting agent to manage your asset is imperative to avoid this and ensure you are as up to date as possible once the Bill is passed.”