This means all letting agents in Wales need to be suitably trained and licensed, while the agencies themselves must have Client Money Protection (CMP), professional indemnity insurance, belong to an independant redress scheme and provide all of their landlord and property details. Find out more...
Have you met the training requirements?
Here we have highlighted some of the ways you can meet the training requirements.
Propertymark Qualifications' residential letting and property management qualifications are an approved accreditation for Rent Smart Wales licensing.
Rent Smart Wales offer a top up module that you can take if your Propertymark Qualification did not cover the requirements of the Housing (Wales) Act 2014.
View our flow chart to see which routes you can take in order to meet the training requirements for Rent Smart Wales.
Rent Smart Wales first announced a £3,728 licensing fee for agents, we branded this unfair given it did not consider the size of a letting agent business. This meant both the smallest and largest agents would be charged the same fee. Under the Freedom of Information Act, we requested an explanation as to how the Licensing Authority arrived at the £3,728 fee.
Following our continued lobbying, Rent Smart Wales announced a new fee structure which came into effect 25 April 2016. The new graduated structure recognises the size of the business and offers a discount to ARLA Propertymark members. This offers agents a fairer fee structure which also demonstrates the benefit of professional membership.
Letting agents and landlords who aren't licensed could face criminal prosecution, fines, fixed-term penalty notices, rent repayment orders, rent stopping orders or the inability to issue a valid notice to regain possession.
The Housing (Wales) Act 2014 became law on 17 September 2014. The aim of the Act is to improve the supply, quality and standards of housing in Wales.
The House of Commons Public Accounts Committee’s report on the Regulation of Private Renting, published today, 13 April 2022, claims that better data is needed to understand issues within the private rented sector (PRS) in England and to evaluate the impact of legislative changes on landlords, tenants, the housing market as a whole and the effectiveness of regulation.
The Economic and International Affairs Scrutiny Panel of the States of Jersey Assembly (the parliament of Jersey) has published a report recommending the introduction of regulation of estate agents.