From 14 May 2025, new UK legislation is coming into force that affects all landlords in Scotland. These updates relate to financial sanctions and Anti-Money Laundering (AML) regulations and apply to every property let for more than one month, regardless of the rental amount or the landlord’s background.
At Martin & Co Paisley, we want to keep our landlords fully informed, but most importantly, reassured that we’re across all the legal and regulatory changes, and that there’s nothing you need to worry about.
What’s changing?
The UK Government is expanding its AML and sanctions regime to include all landlords and tenants, not just those in high-value lets. This means:
- All landlords and tenants must now be screened against the UK sanctions list (maintained by the Office of Financial Sanctions Implementation – OFSI).
- These checks are designed to prevent money laundering, terrorist financing, and the involvement of sanctioned individuals or entities in the UK rental market.
- These checks will become a legal requirement for letting agents, starting 14 May 2025.
What this means for you as a landlord
If you let your property through Martin & Co Paisley, you don’t need to take any action. These changes are entirely agent-led.
As your managing agent, we will:
- Carry out the required AML and sanctions checks behind the scenes
- Ensure full compliance with the latest legislation
- Let you know if we need to update any of your ID or documentation
This is a straightforward process that protects both you and your property. The vast majority of landlords will be unaffected beyond a simple verification step.
Why these checks matter
The UK Government is tightening AML laws to stop the property sector being used to disguise or move criminal funds. These new steps:
- Help protect the integrity of the property market
- Reduce your risk of unknowingly being involved in non-compliant activity
- Apply across the UK – not just in Scotland – and are backed by strict penalties for non-compliance
But with Martin & Co Paisley managing your property, you’re already in safe hands.
What’s required from you?
In most cases, nothing at all.
If you’re a landlord who’s been with us for some time, we likely already hold all the documents we need.
We’ll only be in touch if:
- We need to refresh any ID or proof of address documents
- You’re new to us and we need to verify your information under AML guidelines
- A tenant triggers a match (which is extremely rare) and we’re legally required to pause the let and notify OFSI
Self-managing? You’ll need to act
If you manage your property privately, these AML and sanctions checks still apply. You’ll be responsible for:
- Carrying out due diligence on all tenants
- Ensuring your own name is checked against the sanctions list
- Reporting any matches to the relevant authorities
This is just one more reason many landlords choose to move to a fully managed service — to avoid the burden and risk of changing compliance rules.
Martin & Co Paisley: Your compliance partner
You can trust us to:
- Handle all AML and financial sanctions checks for your property
- Keep you updated as legislation evolves
- Ensure your tenancies continue smoothly and legally
With over 17 years of experience letting homes in Paisley and Renfrewshire, we know how to navigate these updates and make compliance stress-free for our landlords.
Any questions? Let’s talk
We’re here to support you through these changes — and make sure your property remains protected and fully compliant.
If you’d like to know more about the new regulations or what it means for you, just give us a call or pop into the branch. Our team is always happy to help.
