What's it all about?
The Rent Smart Wales scheme is being introduced in order to raise standards in the private rented sector in Wales. The new legislation requires all landlords and letting agents operating in Wales to register and apply for a licence before they are allowed to operate within the private rental sector.
The new legislation and Rent Smart Wales is replacing the existing Landlord Accreditation Wales scheme, a voluntary scheme operated by Cardiff council on behalf of all Welsh local authorities.
When is it happening?
The new legislation comes into force on 23rd November 2015, and landlords have a year to get their licence in order before they face penalties. the potential penalties include hefty fines and even prosecutions, so it is important that the new legislation is adhered to.
With a year to get the correct paperwork in order, and a full support team available either on the phone or online, it is hoped that landlords should have plenty of time to get the correct paperwork in place before the year is up.
The new act has been drawn up to significantly change the way that the private rental sector operates in Wales. It plans to bring regulation to the market, and hopes that standardised licensing of all landlords will result in:
- The standard of property will be improved, and the way property is managed will be better.
- More information on landlords available for tenant verification and for local authorities to assist with strategic intervention
- Both landlords and tenants being clearer on their rights and responsibilities
What do I need to do?
You have a year to make sure you have all your relevant paperwork in order, but it is important to make sure that everything is in order before the 23rd November 2016.
- If you are a private landlord in Wales you must register yourself, and the addresses of all your rental properties in Wales.
- If you manage property or undertake defined letting at a rental property in wales you must apply for a licence. if your agent manages your property on your behalf, make sure your agent has a licence.
- You have to prove that you have any appropriate training required to manage the property.
- If you need any further training, licensing training will be available through Rent Smart Wales, or approved training courses.
Can you help!?
- It sounds like it is going to be period of upheaval, but don’t worry – the regulations have been introduced in order to ensure the private rental sector in Wales is a safer, more secure industry for both tenants AND landlords.
- Urban.co.uk are passionate about cleaning up the letting industry, and we're more than happy to assist however you require.
- As a fully-licensed ARLA agent we are perfect placed to answer any questions you have on the new scheme, and our friendly Lettings team are available seven days a week to help!
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