Rent Smart Wales – the countdown is on- Deadline November 23rd 2016
Landlords and agents letting and managing properties poorly or illegally will lose their license.
Landlords have a responsibility to tenants to allow them to live in properties that are of a high standard.
There are two types of requirements
This is for any landlord who owns a home under tenancy but doesn’t carry out property management duties.
As a landlord, you must register with your name, address, date of birth, e-mail address, telephone number and addresses of every property you let out in Wales.
If you carry out any tenant-find or day-to-day property management-related duties you must be licensed. However, if you use a managing agent, then it’s the agent who must be licensed.
Those who self-manage must also obtain a license or decide whether to hand over management of their property to a licensed agent.
Every landlord in Wales must register with the scheme
Registration can easily be done online for a cost of £33.50, or via a paper application form for £80.50. The cost is per landlord, not per property.
The registration process must be completed by the landlord and cannot be done by an agent.
Landlords have until 23 November 2016 to register.
The landlord cannot carry out any work related to the property after this date without holding a license- it will be illegal
Registration is valid for five years
Upon expiry, a new registration must be made, along with payment of a new fee.
If you’re contact details or your property portfolio change, you are required by the local authority to update your record.
If you manage properties, you must obtain a license
Landlords who self-manage their property portfolio in Wales must apply for a license in addition to having to register.
If you undertake landlord letting activities like viewings, or property management tasks like carrying out maintenance then you will need a license to carry on these tasks.
Only one license is required, regardless of the number of properties you manage.
Applying for a license can be done online for a cost of £144, or via a paper application form for £186.
The license holder must be deemed a ‘fit and proper person’ and must comply with a Welsh Minister-approved Code of Practice containing letting and management standards in relation to rented properties.
A license is also valid for five years
Upon expiry, a new license is required, along with payment of a new fee.
Details during this period must be kept up-to-date.
Landlords must undertake relevant training before being granted a license
Rent Smart Wales offer their own training – which is a one-day course at a cost of £100 per person – but alternative training via authorised providers is also valid.
If you have already completed Landlord Accreditation Wales training course, there will be a short, free, online top-up training session made available to you.
Licenses can be revoked which means serious consequences
It is expected that enforcement will take the form of fixed penalty notices and possibly prosecutions for non-compliance.
How My Place Properties Can Help
- Save you the cost of a landlord license and the hassle of ongoing training. (You’ll still need to register your property)
- Buffer you from the questions and demands of the local authority and Rent Smart Wales
- Address any issues or problems via our designated maintenance and inspections Team
- Offer you continued and considered advice on how best to maximise your rental income
- Provide you with peace of mind
Contact us now – we are very happy to help!