Property compliance has become a buzzword lately. It’s a yarn which is being spun by (you guessed it) property compliance consultants. They make their money from property compliance. Of course, you need to be on top of the legalities of your property deals. You should make sure that you’re running your business in a way which is compliant with regulations. However, there is a hysteria which is being drummed up and naive property investors are being dragged into its sphere of chaos. You don’t need to pay absurd amount for property compliance, nor do you need to hire consultants to help you. Give it 6 months and the uproar will die down so that normality can resume – that’s Samuel’s prediction.
You can compare it to the GDPR drama which ensued around a year ago. It was front page news. The whispers were being shared through fear on social media. Small businesses were being encouraged to panic or pay for unnecessary compliance consultancy. It was a storm stirred up by consultants to exploit business owners who felt obliged to pay up or face the consequences. As it turned out, the government introduced strict GDPR measures to tackle the large firms who controlled gargantuan amounts of data. GDPR wasn’t about harassing the average small business owner. The hype grew and then it died, now everything has returned back to normal.
Samuel’s advice to you is just focus on activities which generate revenue. Don’t spend your life or allocate silly resources to becoming compliant – a lot of it is just nonsense.