Everything you need to know about Rent Smart Wales
There’s plenty of legal changes on the horizon that will affect how landlords and letting agents run their lettings in Wales.
At present there are no plans to change tenancy deposit protection so landlords, agents and tenants can carry on using us as normal.
Our new mydeposits Wales page is a dedicated information hub to explain the upcoming changes to ensure you are fully prepared.
Rent Smart Wales
From 23 November 2016 all landlords and letting agents operating in Wales must be licensed or registered with Rent Smart Wales. Landlords and Agents can register now ahead of the 23 November 2016 deadline.
Quick links to help you find out more:
Landlord Licensing – If you are a self-managing landlord and carry out tasks such as property viewings, setting up your own tenancy agreements or collecting rent, then you are required to become licensed with Rent Smart Wales – full details of which can be found here.
Landlord Registration – If you are a landlord renting a property through an agent, depending on the ownership of the property, you may need to register – click here to find out if you qualify.
Agent Licensing – If you let or manage properties in Wales on behalf of other landlords, then you are required to become licensed with Rent Smart Wales as an agent. For more information, click here.
Find Out More About Rent Smart Wales
Our partners, the National Landlords Association are running training courses for landlords and agents to prepare. Click here for full details.
The Renting Homes Act 2016
The Renting Homes Act 2016 contains several new conditions to help improve the quality of the Welsh private rented sector.
It includes provisions to help combat retaliatory evictions, reduce homelessness, streamline the repossession process and to make the tenancy agreements easier to understand. Although this Act has not yet been introduced, it has received Royal Assent and after further consultation can be introduced by the Welsh Government.
Full details regarding the Act can be found here.
Trusted Services to Help Agents Comply
Agents must have client money protection insurance and membership of a consumer redress scheme to gain a Rent Smart Wales license. Our trusted partners can help you comply:
Client Money Protect are the only company in the UK to offer standalone insurance, so you can join and get licensed easily and at a much lower cost.
Click here to find out more.
The Property Redress Scheme are currently the most cost effective provider of redress on the market and provide independent resolution to complaints from your consumers.
Find out more here.
Hamilton Fraser are professional indemnity specialists for estate and letting agents, offering a bespoke policy in partnership with Hiscox, tailored around industry professionals
Find out more about the product here.