What’s Rent Smart Wales?

We aim to assist every agent and landlord in Wales with the Rent Smart Wales scheme. On the 23rd November 2016, it became law for every landlord and agent operating in the private rental sector in Wales to be licensed with the scheme. If you’re a landlord who is not involved in setting up tenancies or managing properties then you are required to register with Rent Smart Wales but not become licensed.

If you would like to share your opinion on the licensing scheme and complete PEARL’s survey. Please click here to complete it before it closes. In order to help every property professional in Wales, we’ve analysed these changes in further detail below:

Licensing

After launching on the 23rd November 2015, agents and landlords in Wales have had a year to comply with the legislation. If you’re yet to become licensed, we urge you to begin the process as it can take around 8 weeks for your application to go through. According to Rent Smart Wales, it is vital to obtain a license if you allow anyone else to live in a welsh property you own for a fee under an “assured, assured shorthold or regulated tenancy”. However, if you’re a landlord who does not set up tenancies or manage properties you do not need to be licensed but it’s vital you register as a landlord by simply clicking here and signing up.

Should you be a landlord or agent in Wales self-managing your properties then you will require a licence. To sign up and obtain your license you can apply online within your Rent Smart Wales account. In order to complete the application, evidence of suitable landlord training must be provided whilst the “fit and proper” person declaration must be completed. If suitable training hasn’t been taken, this can be undertook with Rent Smart Wales themselves or with an approved course authorised by Rent Smart Wales. Once your license has been completed, this will last for a 5 year period. To begin your application, please click here and sign up with Rent Smart Wales.

Register your property

As well as becoming licensed, it is important that all private landlords register themselves and the addresses of their rental properties with Rent Smart Wales. This also includes the address of your dwellings (buildings, or part of a building, occupied as a separate dwelling) which are for let under a tenancy. In order to do this, the landlord must have accurate and up to date information about each of their rental properties and themselves. Should another property occur, this must be added to the landlord registration within 28 days.

Letting agents must register the properties involved in lettings, they own solely. When it comes to properties owned by the landlord, it is the landlord’s responsibility to name the agent as an individual carrying out lettings and property management work.

Find out more about VTUK’s property software, call us 0800 328 0460, email us info@vtuk.com or visit us vtuk.com.

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