Deadline for Welsh landlords to register is fast approaching

Register_UK_BLOG

 

Landlords in Wales now need to become registered, according to a ruling that came into effect on November 23rd 2015 and gave people a year to register.

That means the deadline is in less than a week.

If you haven’t registered yet here’s a quick guide to the new system and what you need to do.

Who needs to register?

If you own a property in Wales that you don’t live in and rent it out on an assured, assured shorthold (AST) or regulated tenancy you need to register.

Who else does it affect?

If you act as the agent for a property you don’t own then you won’t need to register but may need to apply for a license. Click here for more info on licensing.

What about holiday lets?

If the property you rent out is a holiday let you’re not a landlord under the Housing (Wales) Act 2014 so don’t need to register.

That also applies if you let someone (e.g. a relative) live in your property rent free.

How do I register?

You can register at rentsmart.gov.wales

All you need to do is create an account and follow the steps online.

You need to complete the registration yourself – you can’t get an agent to do it for you.

What does it cost?

Registration costs £33.50 if you do it online – the fee covers you as a landlord and doesn’t increase if you own multiple properties.

Applying via a paper application instead of online costs £80.50.

What happens next?

Your registration lasts 5 years – after that you need to register again. By law you’ll need to keep your information up to date in the meantime.

That includes things like changes in name, address or contact details and adding more properties to your registration.

For full details and to register online visit rentsmart.gov.wales

Where in the landlord lifecycle are you?

Overlooking something as simple as proper landlord insurance or protecting the tenant’s deposit could mean you face penalty fines or even break the law.

Being a landlord is not easy; there are plenty of laws that govern the private-rented sector and the consequences of not knowing, or understanding them can be disastrous.

Help is at hand from deposit protection experts, mydeposits with a free Landlord Lifecycle ebook.

It explains renting, and how to get it right before, during and at the end of the tenancy, covering key topics:
• Preparing and marketing your property
• Carrying out an inventory and tenant checks
• Getting the right insurance
• Protecting the deposit
• Successfully managing your property
• Dealing with end of tenancy issues

Supported by experienced landlords…
Experienced landlord and contributor to the guide, Richard Blanco says, “I’ve been a landlord for 11 years and have heard countless stories from new landlords who’ve been caught out for not understanding their obligations, what to do or when to do it, so I’ve helped write the Landlord Lifecycle video to pass on my experiences, help others avoid the potential pitfalls and ensure a happy tenancy for all.”

Download your free Landlord Lifecycle ebook here.
Landlord-Lifecycle_booklet

This article was contributed by myDeposits.

Landlords: Researching a new property? Start here

If you’re a landlord who’s thinking of investing in additional properties, you need to do your research. There are lots of property related websites where you can enter the postcode of a place you’re interested in buying, to get related data, but you won’t get all the information you need from a single source.

Until now. Our friends at Property118 have built this handy tool to search across multiple sources, to give you the information you need to base a decision on. The beauty of it is, you only have to enter one postcode. And it’s free.

In one single step you can look at information sourced from the three major property sites – RightMove, Zoopla, and of course, SpareRoom, together with information on planning applications, local crime rates, LHA rates and more.

You can use it now – here!

UK Property Research Tool
What you need to know and where to find the information