Details about the responsibilities that all landlords and managing agents within Wales must fulfill.
Registration and Licencing
Under the Housing (Wales) Act 2014, all Landlords within Wales who undertake letting and managing activities are required to register and obtain the relevant licence with Rent Smart Wales.
There are two types of licence Landlord Licence and Agent Licence. For those Landlords who are managing and letting their own properties, will need to apply for a Landlord Licence. All those who are completing managing or letting activities on behalf of the landlord and considered agents under the Renting Homes Act and will require the Agent Licence.
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Tenancy Deposits and Protection
What is a tenancy deposit?
As part of an occupational contract, a Landlord can ask for a ‘security deposit’ or ‘tenancy deposit’, to be paid in advance before the start of an occupation contract. This deposit is used to cover damage caused to the property during the term of the occupation contract or rent arrears accrued.
This is usually around 4/5 weeks or one months rent.
How do I protect my tenants deposit?
Under the Housing (Wales) Act 2014 all deposits made must be put into one of three government-backed tenancy deposit scheme (TDP) within 30 days of receiving the funds. These are:
Failure to protect a contract holders deposit could result in court proceedings.
What do I need to do after protecting the deposit?
Whether the Landlord or a managing agent working on behalf of the Landlord, protect the deposit, a copy of the certificate must be issued to the relevant contract holder(s).
Exceptions
Although the majority of deposits will be protected as per the above there are a few exceptions.
Where a Landlord has accepted a Bond from 97色网 Council the Landlord will not need to protect the deposit in one of the schemes above until the Bond has been replaced with cash. Once the full amount has been repaid, the Landlord then has 30 days to enter it into one of the deposit schemes.
There are also exceptions for resident Landlords, a property being let through company lets or student accommodation.
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