Council-imposed fines on letting agents and landlords that fall foul of licensing regulations have risen dramatically in the past month alone.
Research by PropTech firm Kamma suggests that there have been £600,000 worth of fines imposed on landlords and agents in the capital in the past four months - including a £372,874 increase in just the last month.
Kamma tracks the Mayor of London’s Rogue Landlord and Agent Checker and earlier this year, it reported a 532 per cent increase in fines between May and July as local authorities picked up the pace of enforcement.
It does not break out how many of the fines are applied to agents and how many to landlords.
But it says that in just under a year, the total fines for agents and landlords combined have increased by over a million pounds, and since the start of 2021 Kamma has reported an average increase of £89,670 in fines every month.
Camden council tops the enforcement league table as the most active in terms of number of fines, followed closely by Newham and Southwark. Yet, the London Borough of Hammersmith and Fulham is now the London borough with the highest average fines of £19,800, followed by Hillingdon with an average of £13,500, and Hackney with £11,250.
Kamma chief executive Orla Shields explains: “The lettings market is more regulated than ever before. Licensing schemes, fines and enforcement through Rent Repayment Orders are all increasing, so it’s vital agents act to protect themselves, their landlords and of course their tenants.”
Letting agents and landlords stand to face fines of up to £30,000 for non-compliance, if failing to comply with safety and licensing regulations, and additional fines of up to £5,000 per property for non-compliance with energy efficiency regulations.