Today marks the first day of a rule change for sale-and-rent-back (SRB) landlords and firms.
People involved in this sector of the property market are now given one month to submit a completed application form to gain interim permission to continue their SRB business activities, according to the National Landlords Association (NLA).
Under the terms of new regulation, applicants will have to prove that they meet minimum standards.
Businesses will have to show they treat customers fairly and make clear vital details such as how long they can stay in a property until they need to sell up.
John Socha, vice chairman of the NLA, said: "The clock is now ticking if companies or individuals want to continue with SRB transactions - ethical SRB must be an option for some consumers."
A number of changes to the private rented sector were mooted by the Communities and Local Government department recently, including the proposal of a landlord register to better monitor the industry.
Written by Mark Garner
