There are some big changes affecting the private residential lettings market in Wales this year and we’re still finding many landlords are unaware of how how it will affect them.
Over the past year we’ve been highlighting how Rent Smart Wales will impact on landlords and what responsibilities they will have to register on the Welsh Government’s new housing legislation from 23 November 2016.
So what is Rent Smart Wales.
The Welsh Government has introduced Rent Smart Wales to register and licence landlords and agents in Wales.
It cannot be ignored by any private residential landlord.
They have until 23 November this year to ensure they are trained and registered on the scheme.
Alternatively, if they want they can pass responsibility of the management of their rental properties to an agent to manage on their behalf.
If they choose a lettings agent such as Morris, Marshall and Poole, they don’t have to undertake the training or registration required by the Welsh Government scheme, passing all responsibility to the managing agent.
The government says the scheme will prevent “rogue” landlords and protect tenants. The scheme is not applicable in England.
Morris, Marshall and Poole already manages over 600 properties in Mid Wales and Shropshire on behalf of private landlords and its staff at Rent Smart Wales trained and compliant.
Anyone renting out a residential property has to be registered and trained under Rent Smart Wales or pass the responsibility to a managing agent and we’d urge anyone in that position to talk to us about it.
Call 01686 626160 for more details or to talk to one of our team about the implications of Rent Smart Wales.