Compliance with Regulations
At The Upgrade Authority (TUA), we ensure full compliance with all relevant legislation governing the property management industry for both short-term and long-term lets. We engage specialist compliance consultants to keep us up to date with the latest changes in law and regulations, ensuring that we operate within legal frameworks at all times. Our staff undergo continuous training to maintain the highest standards in property management compliance.
We are proud members of the Property Redress Scheme (PRS), Client Money Protect (CMP), and Propertymark, which further demonstrates our commitment to industry best practices and legal compliance.
Energy Performance Certificates (EPCs)
In accordance with The Energy Performance of Buildings (England and Wales) Regulations, 2012, an Energy Performance Certificate (EPC) is required whenever a property is rented. This certificate provides the property with an energy efficiency rating from A (most efficient) to G (least efficient), which remains valid for 10 years.
EPCs must be provided by accredited Domestic Energy Assessors (DEAs) and offer insights into energy usage, typical costs, and suggestions to improve energy efficiency. They also indicate a property’s environmental impact through its CO2 emissions.
For rentals:
- The landlord is responsible for ensuring that a valid EPC is available before the property is marketed.
- If the EPC has expired, a new one must be commissioned prior to letting the property.
From April 1, 2020, properties with an EPC rating below E can no longer be rented unless a valid exemption is in place. This is in line with the Domestic Minimum Energy Efficiency Standard (MEES) Regulations.
Non-Discrimination Policy
At TUA, we are committed to providing equal treatment for all. We will not discriminate against anyone on the basis of:
- Age
- Gender reassignment
- Marriage or civil partnership status
- Pregnancy or maternity
- Disability
- Race, including colour, nationality, ethnic or national origin
- Religion or belief
- Sex or sexual orientation
We also ensure non-discrimination against parents, single parents, or anyone receiving benefits. Each prospective tenant’s situation is assessed on their individual ability to sustain a tenancy, ensuring fairness and equality.
Compliance with Money Laundering Regulations
In compliance with the Money Laundering Regulations 2017 and the Fifth Money Laundering Directive (5MLD), TUA is required to conduct due diligence on all clients (landlords and tenants) for tenancy agreements with a rental value exceeding £10,000 per calendar month. These checks involve verifying identification, residency status, and ensuring that the tenancy agreement is not used to facilitate money laundering activities.
Ongoing monitoring is conducted throughout the term of these tenancies to assess and mitigate potential risks associated with money laundering. Landlords and tenants subject to these regulations should be prepared for additional checks and administrative requirements.
Electronic Verification Services
Some of our services include electronic verification of client identities for the purposes of Anti-Money Laundering (AML) compliance. This process involves the use of Experian, or other similar services, to verify personal details without affecting your credit score. Records of these checks are retained for five years to comply with AML regulations.
Transparency in Referral Fees
TUA partners with select third-party providers to enhance the range of services we offer to our clients. In some cases, we may receive a referral fee from these providers for introducing their services to you. Rest assured, you are under no obligation to use these third-party services.
These referral fees enable us to reinvest in our business to improve efficiency and maintain competitive pricing for our clients. A full breakdown of referral fees is available upon request.
Service Fees and Mark-Up Transparency
When using third-party contractors or service providers through TUA, a mark-up may be applied to the contractor’s fee. This can range from 1% to 50%, depending on the service. In some cases, products or services are purchased in bulk, allowing us to pass on savings to clients. Details of any mark-up or additional fees will always be provided upfront, ensuring transparency and trust.
Membership with the Property Redress Scheme (PRS)
For your peace of mind, TUA is a member of PRS, which provides an impartial and independent service to resolve disputes. This membership ensures that we adhere to a strict code of practice and that clients have access to free, fair, and professional dispute resolution if needed.
This policy outlines our commitment to compliance, fairness, and transparency in all aspects of property management for both short-term and long-term lets. At TUA, we continually strive to operate with the highest standards of professionalism and integrity.
