Since May 2025 there have been new anti money laundering checks. Previously these were responsibility of letting agents, now they are the responsibility of landlords, regardless of property values.
What are the changes?
I. Landlords must conduct annual sanction checks upon both yourself and tenants. to ensure both parties are not listed on any of the governments sanctioned lists.
II. If you have a let only property through an agent but manage the property yourself it remains unclear who holds AML responsibility.
III. Record Keeping: you must keep records of all AML checks and actions taken. non compliance may include hefty fines and even possible imprisonment. It is important you stay vigilant and aware to ensure you meet all your AML requirements for yourself and tenants.
Anti Money Laundering [AML] checks update
Since May 2025 there have been new anti money laundering checks. Previously these were responsibility of letting agents, now they are the responsibility of landlords, regardless of property values.
What are the changes?
I. Landlords must conduct annual sanction checks upon both yourself and tenants. to ensure both parties are not listed on any of the governments sanctioned lists.
II. If you have a let only property through an agent but manage the property yourself it remains unclear who holds AML responsibility.
III. Record Keeping: you must keep records of all AML checks and actions taken. non compliance may include hefty fines and even possible imprisonment. It is important you stay vigilant and aware to ensure you meet all your AML requirements for yourself and tenants.
Know Your Tenants - Secure Your Investments