I am going to cover various aspects of the legislation here over the coming few weeks - I will also discuss other areas of the UK however the below is (at the moment) only applicable to Wales!
So The first major point regarding the new act is the time-scales. The act is already being phased in however the parts of the act relating to private rentals and private landlords is due to be enforced from "Autumn" 2015 (Specifically from 23rd November 2015) - this date had been pushed back 3 times so we are now grateful that the new regulations are law and that everyone can now work from the same book of rules!
With the introduction of this new legislation, landlords and agents must within 12 months of the above date, comply and become registered and/or licensed via Rent Smart Wales. This will mean that:
- All private landlords who have a rental property in Wales must register themselves and the addresses of their rental properties in Wales
- Landlords who undertake defined letting or property management activities at a rental property in Wales MUST ALSO apply for a licence.
To become a licensed landlord in Wales, you need to prove your competence by undertaking a training course and taking a multiple choice question and answer test. The qualification in Wales is provided by Rent Smart Wales, but they have many different training providers - please visit the website to see more about the training and companies involved.
For your Information:
Any of our clients which use our Fully Managed Service (Kevin Green Lettings) we are fully compliant with the new legislation. Therefore as a landlord all you will need to do is register your property addresses.