Overview
Letting agents are required to perform sanctions checks on tenants as part of the contract signing process to remain compliant with the OFSI’s sanctions reporting requirements.
These checks are required irrespective of the tenancy value and should be performed in the course of concluding an agreement for the letting of land for a term of a month or more.
These checks are carried out automatically at the point the tenant/guarantor signs the contract, using the their first name, surname, nationality and date of birth.