Property professionals and compliance..
We frequently work with property professionals or landlords whose are not providing the level of scrutiny or challenge required to uphold a robust property compliance position.
In our view, property and tenant safety must be one of the top two priorities for providers and landlords (along with financial viability), and should therefore be given the appropriate level of consideration and attention.
Until property and tenant safety is given the status it requires at a governing level, organisations risk existing on a false sense of security at best. At worst, tenants’ lives are at risk.
The Regulator of Social Housing expects providers to uphold specific governance standards in adhering to all relevant legislation.
In our experience, the biggest area of weakness we see across the majority of property professionals is poor data management and lack of knowledge around the legislation. Robust data management of compliance reports are essential for achieving and maintaining a reliable compliance position. Without accurate data, compliance reporting is fundamentally flawed.
Property professionals (including Landlords) need to do this, it is essential to ask the right questions, including;
Where is the evidence behind what is being reported?
How and where are records and data held?
How do I know that the property is compliant?
Do I understand the data supplied to me and can I action it?
Property professionals and landlords should recognise the extent to which they would be accountable in the event of non-compliance and be prepared for any consequences such as large fines and negligence claims.
Sadly, failure to ask the above questions could result in non-compliance and risks to tenant safety.
Do you know what is required under compliance of your rental property??