Rent Smart Wales
A new compulsory licensing and registration scheme for landlords was launched in Wales back in November 2015.
The scheme previously known as Landlord Accreditation of Wales (LAWs) will now be under its new name of Rent Smart Wales.
The new scheme will require every landlord that owns a buy to let in Wales to register their properties, and if a landlord wants to manage a property themselves they will need to demonstrate they are fit and proper to hold a licence and undertake a day’s training course
Alternatively, landlords will be able to appoint a licensed agent to manage the property on their behalf.
Registration can be done online at a cost of £33.50 or via a paper application at the cost of £80.50. This cost is per landlord or per structure. For example, if you owned one property under your own name and then owned a second property in both yours’ and your wife’s name that would need a second registration and require a second fee to be payable.
Registration is valid for 5 years. Upon expiry a new registration is required along with payment of the registration fee.
The registration must be completed by the property owner and cannot be completed by an agent even if the property is managed.
Applying for a licence can be done online for a cost of £144, or via paper application for £186.
All landlords wishing to be involved in management activity such as rent collect or liaising with contractors must apply for a licence and also undertake a day training course at the cost of £100 or via an authorised provider where the costs may vary. If a landlord has already undertaking a course under the old scheme (LAW’S) then they will be required to complete an online top up course.
As the same with registration the licence is valid for 5 years and on expiry it will need to be reapplied for.
If you are still unsure and need any further advice with regards to the new housing act please feel free to drop us an email at info@James-Douglas.co.uk, call us on 02920 456 444 and speak to one of our property consultants or pop in to our office.