Sanctions Are In – And So Are Our New Landlord Checks
As of 14th May, new sanctions laws mean we must verify every landlord’s ID before we can work with them. It’s not just red tape - it’s a legal requirement with serious consequences if ignored. At Cope & Co., we’re fully compliant and ready to guide you through the checks with ease and transparency. In this blog we explain the details...
You will notice things getting a bit more thorough when you contact us about letting your property from now on. No, we haven’t suddenly turned into MI5 - but new regulations mean we are another step closer!
As of May 14th, 2025, new sanctions legislation came into force that places a legal obligation on all letting agents - including us here at Cope & Co. - to carry out specific identity checks on landlords before entering into a business relationship with them.
Let’s break it down.
What Are Sanctions?
Sanctions are restrictions the government sets to prevent financial crime, protect national security, and uphold international obligations. They can apply to people, businesses, or even entire countries. There are several kinds of sanctions, including:
- Financial sanctions - block access to assets, restrict financial services, or stop services from being provided to specific individuals or entities
- Trade sanctions - limit the buying and selling of goods with certain countries
- Immigration sanctions - prevent named individuals from entering or staying in the UK
- Transport sanctions - control aircraft and ship movements associated with sanctioned entities
For letting agents, the key type to understand is financial sanctions. We need to check if a prospective tenant or landlord appears on the UK sanctions list and, if they do, report them immediately to the Office of Financial Sanctions Implementation (OFSI).
This Means We Must:
- Check the landlord’s identity, including verifying name, date of birth, address, and company details if applicable.
- Screen them against the UK sanctions list, maintained by the Office of Financial Sanctions Implementation (OFSI).
- Keep a clear audit trail proving we’ve completed the necessary checks.
It doesn’t matter whether we’ve known you for years, or this is your first time renting out a property – the rules apply to every new business relationship moving forward.
Portfolio Landlords
We have chosen 'Goodlord' as our preferred AML/Sanctions partner as they are concurrently checking the sanctions register for 12 months after the initial instruction. This means you will not require a sanctions check for every re-let, they will notify us if your name comes up in the meantime.
What If We Don’t Comply?
Frankly, non-compliance isn’t an option. If we fail to carry out these checks and accidentally facilitate a financial relationship with someone who is on the sanctions list, the penalties are severe:
- Unlimited fines
- Criminal prosecution
- Reputational damage
So yes, if it feels like we’re asking for a lot more paperwork than usual, now you know why.
Why This Matters
This isn’t just about ticking boxes - it’s about compliance, integrity, and protecting all parties involved. At Cope & Co., we’re big believers in doing things properly. We’ve built our reputation on trust, transparency, and professionalism - and we’ll never compromise on that.
We also see this as part of a wider movement to increase accountability and ethical practice in the private rental sector. With everything from the Renters’ Rights Act to increased licensing and enforcement powers for local councils, we’re entering a new era of letting - and we’re ready for it.
What We’ll Need From You
If you’re a landlord wanting to let your property with us, we’ll now ask for:
Full names of all persons with a legal interest in a property
Dates of birth for the same
A valid form of ID (passport or driving licence)
Proof of address (dated within the last 3 months)
Company registration details (if the property is held in a company name)
This is in addition to the usual property compliance documents we’ve always requested.
The Costs Involved;
For each individual owner the cost is £15.00 plus VAT
For a property with two or more owners the cost is £25.00 plus VAT, then £7.50 for each owner thereafter
For a property held in a Company Name then it is £15.00 for an individual director, £25.00 for two directors and then £7.50 for each director thereafter.
We will require payment for these checks prior to marketing a property.
Final Thoughts: Better Safe Than Sanctioned
Letting property is becoming more regulated - and in our view, that’s no bad thing. While some of the red tape can be frustrating, these checks are there to protect the market and everyone operating within it.
At Cope & Co., we’re not just here to find tenants and collect rent. We’re here to help landlords navigate an increasingly complex landscape - confidently, compliantly, and without risking a fine that could buy you a small yacht.
If you have any questions about the new checks or want to get your paperwork sorted, our team is always happy to help.
