Are you a Welsh Landlord?

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News article

Are you a Welsh Landlord? Are you aware of your need to be registered?

May 2016

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Under the House (Wales) Act 2014 a new legal obligation has been brought in to ensure that the landlords and their agents, undertaking letting and management tasks on residential properties in Wales are carried out in a 'fit and proper' manner.  This came into force with effect from November 2015 and provides one year for landlord and agents to voluntarily become registered, thereafter it will likely become enforceable.

A body called Rent Smart Wales has been created with Cardiff Council.  This is the Licensing Authority for the whole of Wales.  It will process landlord registrations and grant licences to landlords and agents.  It also runs training courses.

As a landlord with residential properties in Wales that let a residential tenancy, whether it be a regulated, assured or assured shorthold tenancy, you are obliged to register.  Such a registration lasts for five years and during that period all information must be kept up to date, including any changes of address or any additional properties.  Registration can be done online or on a paper format for a higher fee.

If you, as a landlord, also undertake letting tasks and manage the property then you are classed as ‘self-managing’ and must also become licensed.  This involves submitting an application and showing evidence of suitable training.  This will be assessed to determine if the licence can be granted.    A licence lasts for five years and can be done online or on a paper format, again at a higher fee.

An agent doing management and letting work of Welsh residential property must also be registered and licensed. The agent must attend the appropriate training courses and submit the relevant fee.  The fees for this are due to be changed with effect from 26 April 2016 to take into account comments that have been made by the various differing sizes of agents and firms.  These fees will now be graduated to reflect the number of properties that are managed by the agent, with discounts available where the agent is a member of a recognised professional body.

Letting tasks would typically include viewings, dealing with any references, preparing a tenancy agreement or an inventory.

Management tasks would include collecting the rent, being a principal point of contact for a tenant, arranging repairs and arranging access with the tenant, and serving notice to terminate the tenancy.

If we can help with any aspects of this then please do contact Rachel Kirk MRICS FAAV on 01244 409678, or email here

Are you up to date with your legal responsibilities as a landlord?  Click here for further information.

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