Rent Smart Wales – Are you still compliant?Rent Smart Wales is responsible for landlord and rental property registration and licensing of landlords and agents. Their goal is to improve property standards, management practices and relationships between landlords, agents and tenants.
Rent Smart Wales landlord registrations and licences are valid for a 5 year period, allowing them to expire could mean you are operating illegally…
Landlord registrationThe immediate landlord of rental property in Wales must complete a landlord registration. This process involves providing landlord personal details, property addresses and details of those responsible for letting and managing the tenancy. A registration must be renewed every 5 years if the landlord is to remain compliant.
Landlord and Agent licensingAfter completing a registration, a landlord who conducts letting and management activities must also apply for a licence. If the landlord appoints an agent to conduct these activities on their behalf, the agent must hold a valid Rent Smart Wales licence. A licence must also be renewed every 5 years.
As part of the licensing process, a landlord/agent must complete approved Rent Smart Wales training before submitting an application.
Check to see if your registration or licence is still valid here: https://www.rentsmart.gov.wales/en/check-register/
Penalties for non-complianceLocal authorities across Wales are working closely with Rent Smart Wales to identify unregistered properties and landlords.
Failure to comply with the requirements currently could result in:
• Fixed Penalty Notices (of either £150/£250)
• Criminal Prosecutions and Fines
• Rent Repayment Orders
• Rent Stopping Orders
• Your ability to secure possession of the property being restricted
If you are a landlord in Wales and are unsure how to comply with Rent Smart Wales requirements or to learn more about registration and licences please speak to your local branch today.
Rents have also increased significantly recently, if you would like an up to date lettings valuation speak to your local lettings team or visit www.peteralan.co.uk/#valuation to find out instantly online