As we just a matter of days away from Rent
Smart Wales I thought it would be a good opportunity to recap what the new legislation
means and what you will need to do to be compliant.
The law itself means that anyone who owns and
rents out private property in Wales will have to register with Rent Smart Wales. All managing landlords and agents will
then also have to obtain a licence. This legislation will be enforced from 23rd
November 2016. This new legislation will see Wales become the first country in
the UK where managing landlords and agents are obliged to undertake training to
ensure they are aware of their rights and responsibilities.
Landlord Registration
Every Landlord, even if you don’t find tenants
or manage properties yourself, will be required to register.
- You can register online
at www.rentsmart.gov.wales
- You will need to provide
your name, address, rental property, contact details and date of birth
- To complete the
registration process you will be required to pay a fee of £33.50
- Once you have registered
you must ensure you keep your correspondence information and property
address up to date
Landlord Licensing
If you find tenants and/or manage at least one
property yourself (i.e. collect rent, organise safety certificates, arrange
maintenance etc), you will also be required to obtain a licence. In order to
apply for the licence you must:
- Undertake approved
training. Licensing training is offered through Rent Smart Wales or you
can choose to attend Rent Smart Wales approved training courses delivered
by other bodies. There will also be a cost involved.
- Complete the ‘fit and
proper’ declaration
- Pay the £144.00 fee.
Once the above has been completed and the
application submitted it will be assessed to determine if a licence can be
granted - which can take up to 8 weeks. Once the licence is granted it will
last for 5 years, applicants must keep their information up to date and comply
with the conditions of the licence.
Just like landlords, letting agents must
also obtain a licence. Strict requirements are in place on agents applying for
a licence,
The scheme was bought in by the Welsh
Government with the objective of raising the standards of the private rented
sector across the country. As previously
highlighted Northwood are strong supporters of the new laws and appreciate the
many benefits of the scheme.
At Northwood Cardiff we are proud to announce that we have
already obtained our Agent licence and are fully compliant with Rent Smart
Wales.
If you have any questions feel free to call me on 02920
301141 for free advice.
