Navigating Sanctions in Property Letting: New Legal Obligations

In this episode of 'That Retail Property Guy,' host Gary Marshall discusses the new legal obligations for UK letting agents effective from May 14, 2025, which require financial sanctions checks on both landlords and tenants. These measures aim to prevent financial crime, safeguard national security and comply with international obligations. Gary explores the implications for letting agents, including the procedural burdens and significant penalties for non-compliance. He also delves into the potential impact on retailers and other businesses, emphasising the importance of thorough checks and documentation in all leasing transactions. The episode underscores the overall significance of these legal changes across various sectors.

00:00 Introduction to the Podcast

00:19 New Legal Obligations for Letting Agents

01:05 Impact on Letting Agents and Compliance

03:07 The Disappearing 10000 Euro Threshold

07:03 Sanctions and Their Implications

07:51 Performing Sanctions Checks

09:31 Challenges and Practical Steps

11:35 Conclusion and Final Thoughts

The UK Sanctions List - GOV.UK
Goodlord's Tenant and landlord sanctions checks FAQs

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