Rent Smart Wales
You may now be aware that the Welsh Government has introduced Rent Smart Wales as of the 23rd of November 2015. The idea is to increase management standards for both landlords and tenants while also improving knowledge and understanding in the sector.
All landlords whom let properties in Wales will need to register their details with Cardiff Council who is the licensing authority for Wales. Letting agents and landlords who manage properties and undertake regular tasks related to the properties, will need to obtain a license from Cardiff Council. In order to do this you will be checked to ensure you are a “fit and proper person” to manage properties and will require approved training to do so.
If you undertake any day to day management of your property you will need to obtain a license. To get a license you will need to:
- Obtain a license from Cardiff Councils licensing scheme Rent Smart, the fees for this is £144.00 if completed online and £186.00 if completed by paper application, the license will need to be renewed every 5 years.
- Complete approved training which will require you to be a “fit and proper person” and will require you to comply and adhere to a landlord code of practice.
All landlords have to register their details and their rental properties, to do this you must complete the following:
- Register yourself on the Rent Smart Wales website.
- Pay a fee of £33.50 if completed online and £80.50 if completed by paper application, this will need to be renewed every 5 years.
- Keep property and personal information up to date and logged correctly.
- Failure to comply could result in, prosecutions, fixed penalty notices, rent stopping orders, rent repayment orders, and restrictions on terminating tenancies.
- Even if you use a licensed agent you will still need to be registered.
If you are unable obtain a landlord license or would rather not go through the process you will need to instruct a licensed letting agent to manage the property on your behalf.
Landlords and agents have until the 23rd of November 2016 to make sure that they are complying with the new rules.
For more information and information visit https://www.rentsmart.gov.wales/en/