Lendlord has launched a new compliance solution designed to help landlords evidence compliance with the Renters Rights Act.
Under the Act, an information sheet must be provided to tenants in existing tenancies before this comes into effect on 1st May.
While it can be issued by post or email, landlords are expected to demonstrate it has been received. Failure to do so can incur fines of up to £7,000 per tenancy.
Lendlord’s latest update to its platform focuses on addressing this proof of service requirement, helping landlords distribute the document, track tenant engagement and retain a clear audit trail.
The system now includes an in-app acknowledgment system, tenancy agreement generator and e-signature integration.
A dedicated workflow has also been introduced to the platform to help support landlords with this process.
“What we are seeing is that this is less about sending a document and more about evidencing service in a way that stands up if challenged,” said Aviram Shahar, co-founder and CEO at Lendlord (pictured above).
“That is where the risk sits, particularly for portfolio landlords where penalties apply per tenancy.
“For brokers and advisers supporting landlord clients, the requirement introduces an additional layer of compliance risk and so our focus has been on helping them create a clear, time-stamped audit trail, whether that is through tracked document sharing or a signed record, so they can demonstrate compliance with confidence rather than relying on assumptions.”
