Lendlord has launched new tools to help landlords ensure they are ready to comply with the Renters’ Rights Act as deadlines loom.
The property management and lending platform says the new solution will support landlords in meeting their obligations.
The government requires landlords to provide tenants with an information sheet before May 31 and they must be able to demonstrate that it has been received.
Failure to do so could result in a fine of up to £7,000 per tenancy.
Lendlord’s tools help landlords distribute the document, track tenant engagement, and maintain a clear audit trail.
Within the app there is a confirmation system, which asks tenants to confirm that they have read the document before proceeding.
There is an e-signature function so that landlords can send the information sheet digitally and record a signed receipt.
Lendlord also offers a rental agreement generator, which produces attorney-backed periodic agreements that meet these requirements new regulations.
Lendlord chief executive and co-founder Aviram Shahar says: “The requirement itself is simple: landlords must provide the official information sheet to every tenant by May 31, but the real problem is proving that it has actually been received.
“The burden of proof lies entirely with the landlord, and a standard email or proof of posting does not confirm that the document has been opened or read.
“What we’re seeing is that it’s less about sending a document and more about providing evidence in a way that will hold up when problems are encountered.
“That’s where the risk lies, especially for portfolio landlords where penalties apply per lease.
“For brokers and advisors supporting landlord clients, the requirement introduces an additional layer of compliance risk and so our focus has been on helping to create a clear, time-stamped audit trail, whether that is through sharing tracked documents or a signed document, so they can demonstrate compliance with confidence rather than relying on assumptions.”