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Countdown to new law affecting landlords and agents in Wales

rent smart walesThe countdown has begun for a new law affecting all landlords and agents in Wales being introduced this autumn. In order to improve letting and management standards for people who rent private accommodation in Wales, the Welsh Government is introducing a new registration and licensing scheme, a key part of The Housing (Wales) Act 2014.

This law will mean that everyone who owns and rents out private property in Wales will have to register with the central licensing authority via Rent Smart Wales. All managing landlords and agents will also have to obtain a new type of licence.

This new legislation will see Wales become the first country in the UK where managing landlords and agents are obliged to undertake training to ensure they are aware of their rights and responsibilities.

What will happen from this autumn?

The benefits of having a centrally managed registration and licensing scheme are significant and will ultimately improve the standards of letting and management practice in the private rented sector by:

In autumn 2015 the Rent Smart Wales scheme will begin and the registration process and licence application can then be completed by landlords. It is anticipated that the majority will undertake the process online; they will also be able to apply in hard copy.

To register for updates and learn more visit: www.rentsmart.gov.wales

Please see link to further FAQs on Rent Smart Wales:  http://gov.wales/docs/desh/publications/150714-update-on-new-legislation-for-private-sector-landlords-and-agents-en.pdf

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