CPS Homes

Rent Smart Wales: Everything you need to know

Rent Smart WalesAs one of Cardiff’s largest letting and estate agencies, we receive many calls and e-mails asking questions about the new Rent Smart Wales legislation. Make today the day you find out more…

What’s the difference between the registration part and the licensing part?

Every landlord must register themselves and their properties with Rent Smart Wales - there’s no getting away from that - but only those who carry out letting/management duties need a licence as well.

I already have a HMO license, so do I need a Rent Smart Wales landlord licence too?

Yes. HMO licensing and Rent Smart Wales are two entirely different pieces of legislation, so holding a HMO license does not alter the requirements put on landlords by Rent Smart Wales.

How much does it cost?

To register: £33.50

To obtain a licence: £144

These are online prices. Postal applications cost more.

How easy is it to do?

Registration is simple, but in order to obtain a licence you’ll first need to complete specific training relating to your duties and requirements as a landlord. This training is classroom-based or available online. The training can be done through Rent Smart Wales themselves or their approved training providers – costs vary.

Book your Rent Smart Wales landlord licence training with CPS Homes today for just £70 + VAT.

I own properties in England and Wales. Do I need to declare them all when I register?

No, just those located in Wales.

I jointly own a rental property with one or more people – do we all need to register?

Yes, but you can make one joint registration, so there’s no need to do one each.

My mum owns the house, but I manage it for her. What do we both need to do?

As your mum is the owner, she needs to register, but she won’t need a licence because she doesn’t appear to carry out any form of letting or management duties. Assuming you perform these duties instead, you will need a licence. However, as you’re not the owner, you’re classed as an letting/estate agent, so will need an agent licence rather than a landlord licence.

If I transfer the full management of my property to a letting agency, do I need to do anything?

You’ll still need to register (at a cost of £33.50), but you won’t need to do any training or obtain a licence, so there’s a considerably saving to be made in both money and your time. Not only that, but the full management service will save you a lot of hassle!

For free, bespoke advice on your own landlord situation, please call or e-mail us: 02920 668585 | lettings@cpshomes.co.uk.

Try our Free Agent Switch Service today!

25 May 2016

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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