Essential information for Landlords in Wales
Since 23 November 2015, all landlords with privately rented property let out on a domestic tenancy in Wales are legally required to register with Rent Smart Wales in order to comply with the law. In order to obtain a license, landlords and agents must complete the Rent Smart Wales approved training. This ensures that landlords in Wales are clear about their rights and responsibilities. For more information click here: https://rentsmart.gov.wales/en/home/
Renting Homes Act - Essential training for landlords and agents
Now, the way you rent out homes has now changed as the Renting Home Wales Act 2016 came into force for all tenancies and licenses in Wales on the 1st December 2022.
The new law, which impacts all new and most existing tenancies in Wales, is now in place. Landlords are advised to complete the training to improve their understanding of the changes and to avoid costly mistakes. You can book this on the Rent Smart Wales website (as above).
1 June 2023 Deadline
If you are a landlord in Wales you must remember that you have only until the 1st June 2023 to convert your existing tenancies to the new occupation contract. After this date, all existing tenancy agreements will require an ‘occupation contract’ to be in place. Now, all tenants in Wales will be known as ‘contract holders’
The New Law and Converting Contracts to the New Occupation Contract
The information from Rent Smart Wales sets out the process that a landlord might follow when converting the old tenancy to a new occupation contract. The landlord has to review each of the existing terms of the old contract to decide whether that term will form part of the new converted contract. If your tenancy agreement does not expire until after 1st June, you have until that date to convert the tenancy to a new occupation contract, see additional guidance on the Rent Smart Wales website. Rent Smart Wales provides training for landlords on their website regarding the new law and provides model written statements for landlords to help them convert their tenancies. Please see the following: https://www.gov.wales/renting-homes-model-written-statements.
If you require any help with tenancy and letting issues, please contact our Ian Williams on 01492 874774 for more information.