LANDLORDS....How 3p today may save you £30,000 in the future.
With the legislation about to change for rental properties in Wales this quick video will tell you why registration is more important than ever.
With the change in legislation happening on 1st December 2022 now it is more important than ever to make sure you are registered with rent smart wales and that your licence is up to date.
Sadly the head line is correct and the £30,000 fine will make a big dent in the said landlords finances. Registration of a property is easy to do and costs less than 3p per day (2.4p to be exact) but here is the important thing, without registration you lose the ability to serve notice on tenants, this leads to a big issue, especially if you are working to a timeframe that means the property has to be sold or you want to move back into it.
We get several calls a week from landlords asking about our charges and the first thing we ask are they rent smart wales registered, it really doesn't matter if you are a brilliant landlord with all your paperwork around gas certificates, EPC's, electrical certificates etc in place, without the rent smart wales registration your paperwork will count for nothing in front of a judge at a possession hearing or a local housing officer advising a tenant that you have tried to serve notice on.
Lastly, as the new occupational contracts become law in the coming weeks and months, it is imperative that contracts, certificates and notices are all correctly dated, documented and presented to tenants otherwise it will be a breach of statutory obligations that will be listed on the new document RHW 16 which is replacing the Section 21 notice currently used to end a tenancy and regain possession.
Below is the link for the rent smart wales landlords registration page, if you have any questions or would like to discuss your rental property please give me a call or come to the office and have a chat.