Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
The government is urging landlords to review guarantor agreements that were established before the Renters’ Rights Act came into force. This advice comes as part of updated guidance on the fees landlords can charge within a tenancy.
According to Property118, the government’s updated guidance specifically recommends that landlords check existing guarantor agreements in light of the changes introduced by the Renters’ Rights Act. The guidance is intended to ensure that landlords remain compliant with current legislation regarding tenancy fees and related agreements.
This development is particularly relevant for UK letting agents and inventory clerks who manage properties with guarantor arrangements predating the Renters’ Rights Act. Reviewing these agreements may help ensure ongoing compliance with the latest legal requirements.
Source: Property118