The new compulsory system of registering and licensing for landlords and agents in Wales, Rent Smart Wales, is now live. The aim is to raise standards in the private rented sector in Wales with the introduction of a new law requiring the registration and licensing of all landlords and agents.
If you own a property in Wales and you rent it out under an assured, an assured shorthold or a regulated tenancy then you must register online at https://www.rentsmart.gov.wales/ which is the first stage of the process. The cost for registering online is £33.50 and if registering by paper application, £80.50.
Landlords who wish to manage their own properties or wish to carry out any letting or property management duties on behalf of another individual must become licenced. This will involve formal training by an approved body. All information relating to the licensing process can be found on the Rent Smart Wales website.
We at Thomas George are in the process of devising our own agents training module for consideration and approval by Rent Smart Wales. Upon authorisation we will roll out to all lettings staff in the New Year. Thomas George will be ensuring we meet the requirements as an agent to hold the License on behalf of our managed landlord clients.
Landlords and agents have 12 months from November 23rd 2015 to comply with the new legislation, during this time Rent Smart Wales will be focusing on raising awareness of the new requirements and will drive and encourage compliance.
We at Thomas George will be keeping our landlord clients informed of developments and are currently guiding them through the registration process. Those landlords whose properties we manage will not need to do anything further than register as we will hold the licence on their behalf.
Our Head of Lettings and the South Wales representative of the Association of Residential Letting Agents (ARLA), Mrs Angela Davey, will be conducting Roadshows across South Wales over the next few months informing landlords of their obligations under the new legislation, how to comply and assisting with registration. Angela can be contacted at Landlordlicensing@peteralan.co.uk and will happily assist you with any queries around this very important development within the private rental sector in Wales.
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Thomas George is a trading name of Peter Alan Limited which is registered in England and Wales under company number 2073153, Registered Office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN. VAT Registration Number is 500 2481 05.
For the activities of advising on regulated mortgages and non-investment insurance contracts, Peter Alan Limited is an appointed representative of Connells Limited which is authorised and regulated by the Financial Conduct Authority. Connells Limited’s Financial Services Register number is 302221.
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