Stay Completely Compliant in Every Way
The interesting thing about Law is that you don’t actually realise how vast a topic it is until you start studying it with great attention to detail. Each area of Law has it’s “fascinating” element - Criminal Law, is apparently the most exciting, with Equity & Trusts being the most boring (hearsay), yet the Law of Tort has to be one of the most extensive and sort after by consumers and lawyers. From Trespass to the Person to Nuisance and Occupier’s Liability and everything in between, there is a lot to cover and a great deal to understand. One of the key cases is the Hillsborough Disaster, a very complex case to unravel and extremely distressing for all involved. Failing in one’s Duty off Care can result in a vast array of challenges, so being sure of one’s remit is incredibly important. Liability arises from sub-standard performance and can therefore can apply to infinite variety of activities.
How do you ensure Your Agency Completely Compliant in Every Way?
Letting Agents manage their Duty of Care daily, ranging from Pre-Tenancy Processes right the way through the duration of the tenancy and beyond. There is a lack of understanding by some landlords and tenants just exactly how much a letting agent is responsible and what its takes to be Completely Compliant in Every Way.
Training and Investing in personal & professional development is an endless pursuit. Every time there is a change of legislation, letting agents will ensure that their ducks are in a row in order to protect their clients, the tenants and also their business. However, learning about change is not enough, these changes have ti=o be implemented and done so in a time efficient manner. It is also important to be certain that documents and paperwork are also amended to maintain compliance.
So how are the pitfalls avoided? Along with training and staying up to date, efficiency is key. Excellent systems and processes especially in this day and age, form a pivotal part of letting agencies. Technology is one of the ways to stay compliant; CRM systems and a variety of software and solutions complement the more traditional ways of running a business or may even replace them. One of the most important things that tech offers is the Audit Trail - staying on top of what has been done and when it was done is extremely beneficial, especially since a lot of the day to day processes involve time and date sensitive procedures, are are evidence based. With the Tenant fee ban being introduced on the 1st June 2019, the spotlight is on not only the financial implications and ‘unintended consequences’ of legislation, it is a time for letting agents to think about the efficiency and effectiveness of their business.