An evening of discovery with Rent Smart Wales
On Monday 12 September our Merthyr Tydfil branch held a letting property seminar, at which representatives from Rent Smart Wales joined us. We decided to organise the seminar, as there is still a lot of confusion with regard to what is involved and who is affected by the Rent Smart Wales scheme. There is certainly a sense that it has not been publicised enough, and that a number of landlords are not aware of it, or believe they are exempt.
What is Rent Smart Wales? Rent Smart Wales is the registration of landlords throughout Wales. All self-managing landlords must undertake training to receive a licence. If a letting agent, such as Bidmead Cook, manages your property, you still have to register, but your agent will undertake the training and hold the licence. On completion of the training, an exam must be taken and passed, this is to ensure that you understand the Housing (Wales) Act 2014, and your role and responsibilities as a landlord. Only those landlords and agents holding a licence will be legally allowed to let a property in Wales.
Around 20 landlords attended our seminar, many of whom were concerned about the data that would be held by the scheme and what details would be placed in the public domain. There was also confusion about which landlords the scheme was aimed at; but if you let a property, whether it is one, or one thousand, you must register by 23 November, otherwise you will be breaking the law.
At Bidmead Cook we strongly believe that a scheme for landlords is needed, and it’s great to see Wales leading the way for the rest of the UK. With a number of rogue and unprofessional landlords who treat tenants disgracefully and don’t fulfil to their responsibilities, something had to change. It is great to know that all landlords will be educated and held accountable, should they fail to comply.
There is a feeling that a more robust marketing campaign is needed to prevent confusion and give clarity and boost awareness of the scheme. Remember, there will be serious consequences for those who fail to register by the deadline date, as it will by then be a legal requirement.
We encourage everyone who is letting a property to register as soon as possible. If you would like more information on how the scheme affects you, then please contact a member of our lettings team today at your local branch.