New legislation is being enforced to raise the standards of the private rented sector in Wales. If you are a landlord, you must comply with this, by registering with Rent Smart Wales. We've been receiving lots of questions about the new legislation, so we've answered some of the FAQs below, to help you see if you're compliant with it.
The Housing (Wales) Act 2014 introduced the new compulsory system of registering and
licensing for landlords and agents in Wales. This is now live, and Landlords have until the 23rd November 2016 to comply. The aim is to raise standards in the private rented sector in Wales.
If you haven’t done so already please go directly to the Rent Smart Wales Website to register your details and the details of your property/properties. Upon registration, you'll be asked to pay a registration fee of circa £33.50 (paper copy for registration is £80.50).
Landlords who wish to manage their own properties will then need to follow these steps:
i) Sign up for a training course at a cost of between £50.00 and £150.00.
ii) Sit and pass a test.
iii) Be deemed fit and proper.
iv) Apply for a licence at a cost of £144.00 (the paper copy is £186.00).
Alternatively, if we manage your property, you simply need to name Pinnacle as your managing agent during registration with no additional cost, other than the £33.50 registration fee. This is all you need do to become compliant with the legislation.
If you are a current landlord using our Letting Only Service and would like to switch to Fully Managed, please let us know and we will switch your service type. Contact firstname.lastname@example.org to discuss this.
Please email email@example.com or call 02920 640200 who will talk through your options and the next steps.