ECSH55200 | Letting agency businesses conducting estate agency business or other supervised sector services

It is not unusual for a letting agency business (LAB) to provide services which would fall within the definition of an estate agency business (EAB), due to the similarity and closeness between the property sales and lettings industries.

In such cases the business is acting as both a LAB and an EAB and its registration must reflect this, as must its compliance with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017).

You should also refer to the sections of the Handbook relevant to EABs where the business is conducting relevant EAB activity – see ECSH53000.

Whilst the majority of LABs also offer EAB services, there are also a number of LABs that offer activities that fall under other supervised sectors, such as accountancy service provider (ASP).

In all cases the business' registration for AML supervision must describe all of the relevant activity it conducts, and the business must adhere to all of its obligations under the MLR 2017.

For further information on undertaking a compliance intervention, see ECSH55175.

You should also refer to the sections of the Handbook relevant to any other sector where the business is conducting relevant activity – see the relevant ECSH50000 chapter.