In order to improve letting and management standards for people who rent private accommodation in Wales, the Welsh Government is introducing a new registration and licensing scheme, a key part of The Housing (Wales) Act 2014.
This law will mean that everyone who owns and rents out private property in Wales will have to register with the central licensing authority via Rent Smart Wales. All managing landlords and agents will also have to obtain a new type of licence.
This new legislation will see Wales become the first country in the UK where managing landlords and agents are obliged to undertake training to ensure they are aware of their rights and responsibilities.
From this Autumn, whoever manages the property, the landlord or an appointed agent, must become licensed, they must demonstrate they are ‘fit and proper’ to hold a licence and undertake approved training.
Once they are part of the Rent Smart Wales scheme, landlords and agents must keep their information up-to-date and comply with all requirements.
The benefits of having a centrally managed registration and licensing scheme aim to improve the standards of letting and management practice in the private rented sector by ensuring landlords and agents are aware of what is required; raising tenants’ understanding of their rights and responsibilities; and providing accurate information on the private rental sector in Wales.
The scheme also aims to provide landlords and agents with regular updates on their duties and responsibilities and providing support to ensure tenancies run smoothly and ensure that landlords use agents that are professional, knowledgeable and licensed.
