All Landlords to Register with Rent Smart Wales before 23 November 2016!
Following an announcement by the Welsh Government, all landlords operating in Wales must register themselves and all details of their rental properties with Rent Smart Wales before 23 November 2016.
This legal regime will replace the existing voluntary ‘Landlord Accreditation Wales’ scheme which is operated by Cardiff Council on behalf of all local authorities in Wales.
Does this apply to you?
- Do you own a property in Wales that you don’t live in?
- Do you allow someone else to live in that property (as their main residence), and do they pay you money to live there?
- Is the property rented on an assured, assured short-hold or regulated tenancy?
If you answered yes to these questions, you are a landlord and need to comply with the registration requirements in Wales.
A landlord who currently manages their property may choose not to apply for a licence, but must use a licensed agent to undertake ‘management activities’, instead. If you choose this option you will effectively surrender the right to manage your rented property: this is a choice that shouldn’t be taken lightly.
It is important to note that if you don’t register in some form before 23 November 2016, penalties may apply.
Your registration will last 5 years after which time you must re-register. During the registered period, you must keep your information within it up to date.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
Image courtesy of hywards at FreeDigitalPhotos.net