News LANDLORDS – THE CLOCK IS TICKING ...
Published by Natalie on 18th October, 2016
Wednesday 23 November is the deadline for all private landlords to have registered with RentSmart Wales
Rent Smart Wales, a Welsh Government registration and licensing initiative, aims to improve standards throughout the private rental sector by ensuring landlords and letting agents attend training in order to obtain a licence. Furthermore, it is envisaged that the scheme will help promote tenants’ rights and responsibilities by making information more widely available.
All private landlords are required to register themselves and their properties with Rent Smart Wales, while landlords who let and manage their properties must also obtain a licence. To achieve this, applicants will make a declaration that they are ‘fit and proper’ to hold a licence, and they must undertake, and pass,approved training. Alternatively, landlords who prefer not to let and manage their own property can appoint a licensed agent to manage the property on their behalf.
Sara Hawkins,Rentals Director for Payton Jewell Caines explains: “Rent Smart Wales is a landmark scheme that will help prevent the involvement of rogue and even criminal, landlords and agents in the management and letting of properties. It will also help to protect tenants in the private rented sector and will support good landlords and agents by helping them keep abreast of their responsibilities and legal obligations, raising the reputation of the sector as a whole.
Landlords have until 23rd November to comply with their legal obligations, but with applications takingup to 8 weeks to process they are being encouraged to do so now rather than risk missing the deadline. Registration costs £33.50, while those landlords who also require a licence must pay £144 and an additional fee for their training. Once completed, both registration and licencing will be valid for a period of five years.
Sara Hawkins adds:“Our portfolio spans the Bridgend, Port Talbot and Neath areas. Changing legislation is a big issue for all of our landlords who are increasingly recognising the need to choose an agent that gives them total peace of mind. Rent Smart Wales is certainly helping to professionalise the private rental sector and raise standards but landlords really must take on board the changing legislation sooner rather than later. Complying with the new legislation takes time and consideration; leaving it to the last minute means that you risk missing the deadline."
For further information, visit the Rent Smart Wales website https://www.rentsmart.gov.wales/en/ or call 03000 133344.