From 14 May 2025, new UK sanctions reporting obligations will apply to all estate and letting agents. These rules, set out under the Sanctions and Anti-Money Laundering Act 2018, require agents to report to the Office of Financial Sanctions Implementation (OFSI) if they suspect they are dealing with clients under financial sanctions.
The changes mean letting agents, alongside estate agents, must carry out checks on landlords and tenants at key stages of property transactions. Failure to comply could lead to fines or even criminal penalties.
Download the full Propertymark Fact Sheet below to understand your obligations and next steps:
