Do you rent out a property in Wales? If so, you need to be aware that a law has been introduced in Wales which applies to all landlords of private residential property and if you own, rent out, manage and/or live in a rented property in Wales, then this law will apply to you.
The new registration and licensing scheme will help to raise standards in the private rented sector in Wales. It will also raise the awareness of landlords, agents and tenants, of their respective rights and responsibilities.
Failure to register and obtain a license (where required) is a criminal offence. The legislation will be enforced as of 23 November 2016, and those who fail to comply run the risk of conviction and incurring serious penalties.
Although registering is mandatory, landlords can avoid having to be licensed if they employ a licensed agent, such as Reades Residential, to deal with any regulated activities on their behalf.
The licensing process can take up to 8 weeks to complete, once all paperwork is submitted, so make sure you put in place arrangements to comply in good time.
As the area's leading letting & management agent, hundreds of landlords choose Reades Residential to handle their rental properties and over 95% of our portfolio is fully managed.
Our phenomenal client retention and excellent reputation are testament to our highly effective management skills and exceptional customer service.
If you are confused about licensing, don't risk it - speak to one of our expert team on 01244 560 747.
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