Dec

Landlords demand efficiency and cost control for new enforced regulation?

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Landlords demand efficiency and cost control for new enforced regulation?

The government is imposing new regulations on new landlords’ databases. As responsible landlords, we demand efficiency and proportionality in compliance.

A recent excellent article by the property118 team pointed to the disproportionate nature of regulation. >> https://www.property118.com/deposit-disputes-remain-rare-despite-rising-rents-tds/

The data points to the schemes holding 4.7 million deposits amounting to schemes holding £5.5 billion in cash, around £1,100 per tenancy.

Remarkably, only 1% of deposits are disputed, amounting to £55 million in dispute, but the suppliers can presumably earn interest on the deposits. Assuming this is 5% they earn £275 million a year. Five times the disputed deposits simply for putting the deposit in a bank.

So, if the government are demanding new databases for registration of all and bad landlords, these companies have plenty of money to cover their production and already hold 5 million landlord records.

Landlords demand that the government ensure any regulatory databases are provided free for landlords and tenants at the point of use. The money doesn’t need to be found; it is already presumably being made by the companies supplying the DPS schemes.

Let’s hope the government doesn’t run another cash cow for its preferred computer alliance and instead ensures an existing supplier extends their existing landlord database, paid for by existing DPS schemes providers. Free of Charge to cover any new regulation for landlords’ registration. If charges are made, Landlords would likely pass these onto tenants in any case.

What does the Property118 community think?

Paul

The post Landlords demand efficiency and cost control for new enforced regulation? appeared first on Property118.

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