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These changes come from updated Anti-Money Laundering (AML) and financial sanctions regulations and will bring new compliance requirements across the lettings sector.</p><p>What you need to know:</p><p><strong>Mandatory checks for all tenancies:</strong></p><p>From 14th May 2025, all landlords, tenants, guarantors and adult occupiers (over 18) will be required to complete Customer Due Diligence (CDD) checks before the start of any tenancy.</p><p><strong>Proof of property ownership:</strong></p><p>Landlords will need to provide documentation confirming ownership of the rental property.</p><p><strong>Cost of checks:</strong></p><p>The cost is £10 per person (inclusive of VAT) and will be invoiced to you once the tenancy has commenced.</p><p><strong>Which tenancies are affected?</strong></p><p>We will roll this out in stages:</p><ul><li>New tenancies and new landlords from 14th May 2025</li><li>Renewed tenancies shortly after</li><li>Existing tenancies when relevant eg change to rent</li></ul><p>&nbsp;</p><p>What do you need to do?</p><p>We want to reassure you that we will manage this process for you. Our teams will contact you when we need information or documents. <strong>There’s no immediate action required from you now.</strong></p><p>If you have any questions or concerns, please feel free to reach out to your property manager or local branch. We are here to help.</p><hr><p><i>Frequently Asked Questions</i></p><p><strong>Does this apply to all tenants and landlords?</strong></p><p>Yes - this applies to all new tenancies from 14th of May, and then renewals and existing tenancies in later phases.</p><p><strong>Who needs to be checked?</strong></p><p>All landlords, tenants, guarantors and anyone over 18 living at the property, even if they are not paying rent.</p><p><strong>When will you contact me?</strong></p><p>You will hear from us ahead of time if we require anything from you.</p><p><strong>Can you give me an example of the cost?</strong></p><p>The cost of the check is £10 per person (inclusive of VAT) and will be invoiced to you once the tenancy has commenced. 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