I own a couple of rental properties in Wales, but I live in England. Do I need a Rent Smart Wales licence?
Yes. The new Rent Smart Wales regulations came into force on Monday, 23rd October, so it is important that you make sure you are registered.
All landlords who own a property in Wales, and undertake ‘management activities’ or maintenance on a rented property, must hold a licence. If you don’t want to obtain a licence, a licensed agent must manage your property on your behalf
Under the regulations, the following actions require you to register for a licence:
- Arrange or conduct viewings with prospective tenants
- Gather evidence for the purpose of establishing the suitability of prospective tenants (this includes referencing, performing credit checks and/or interviewing a prospective tenant
- Prepare, or arrange the preparation, of a tenancy agreement
- Prepare, or arrange the preparation, of an inventory for the dwelling or schedule of condition for the dwelling
- Collecting rent
- Being the principal point of contact for the tenant in relation to matters arising under the tenancy
- Making arrangements with a person to carry out repairs or maintenance
- Making arrangements with a tenant or occupier of the dwelling to secure access to the dwelling for any purpose
- Checking the contents or condition of the dwelling, or arranging for them to be checked as part of a current tenancy or for one which has ended;
- Serving notice to terminate a tenancy.
Even if you don’t currently undertake these activities, it is worth considering getting your licence arranged, so that should you need to in the future you are prepared. At the point of registration, you will have to list each of your properties, so if you own more than one property there is no need to go through multiple procedures. once you've got your licence, it will last for five years.
The cost of the licence is £144 if you register online and £186 for if you prefer to submit a paper application.You have a year to make sure that all your registration is in place, but if you do not have a licence by the 23rd November 2016 you will face penalties.
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