Lettings agents have just under six weeks to comply with new licensing rules in Wales as data reveals thousands of Welsh landlords face missing the deadline.
From November 23 all landlords must register and agents and self-managing landlords must obtain a licence in a scheme called Rent Smart Wales.
The aim is to eliminate rogue landlords but a freedom of information request has revealed just 25,353 landlords have registered out of a possible 100,000 the government estimates need one.
The document doesn’t mention how many lettings agent still need to get a licence.
To obtain a licence agents need to visit the Rent Smart Wales website and will also need to complete an approved training course.
A licence is only needed for the company but employees must be declared on the document.
The cost of the licence, which lasts for five years, depends on the number of properties let in Wales.
Fees start at £1,890 for those with up to 100 rented properties in Wales if the agent is a member of a professional body. Fees start at £2,100 for those that aren’t part of a membership organisation.
Failure to comply could result in restrictions of Section 21, rent stopping orders, and fines.
Comments (8)
I work for a letting agent in Wales, and whilst the fee-jump between having 100 and 100+ properties does not seem particularly fair, we are optimistic about Rent Smart Wales. The training, if undertaken, goes over legal and compliance issues, as well as general advice on how to handle maintenance, and if taken seriously, I think it would be advantageous to new or accidental landlords managing properties themselves.
As far as we are aware, the money raised is supposed to be going back into the scheme, and will potentially be paying for enforcement officers.
Regardless, it is part of the Housing (Wales) Act 2014, and we’ve had a year to make sure we are compliant. Not sure simply refusing to register/licence is the best way of fighting if you disagree with it.
Hypocritical Councils claim that Letting Agents are charging ‘rip off’ fees!!!
Think you might find it is a fantasist Charity might be leading this; the one who today have announced 75% of tenanted property is in unsuitable condition. Then of course we have politicians who live in a fantasy world themselves and are who are so daft they believe it!
I’m told they can’t cope with the workload and telling enquirers they can expect at least 10 days for a reply.
“Fees start at £2,100 for those that aren’t part of a membership organisation.”
Ridiculous! I’d like to know what are they using this money for?
pensions for the council workers.
Try multiplying 25,35 by £33.50 is the registration fee of a landlord (let alone 100,000 = £3.35m) which doesn’t give you a licence and then add in the approx. £500 licence for a landlord who manages his own property and min £1,890+ (jumps considerably over 100 properties – not landlords) for an agent licence plus fee added for mandatory training per member of staff. You can see why Cardiff Council are looking smug.
RIP OFF WALES.