Buy to Let Licensing to Encompass All Welsh Properties

31 May 2012 Categories: News

Buy to Let Licensing to Encompass All Welsh Properties

A new reform aimed at improving the living conditions of tenants in private rented accommodation will affect every buy to let property in Wales from later this year. When the reform is launched every landlord with a buy to let property within the boundary ofWaleswill be required to sign up to a new licensing scheme – even if they don’t live in Wales themselves.

Landlords will be required to show they are ‘fit and able’ to act as a landlord before a licence will be issued, and until they are successfully registered they will be unable to rent out any buy to let property they own.

Once registered a landlord will then be required to conform to a ‘code of practice’ that will ensure they offer acceptable living conditions to their tenants. Understandably the reform will also apply to letting agents and estate agents who offer letting services in addition to property sales.

When asked about the new licencing scheme, Huw Lewis, housing minister for the Welsh Assembly government said, “Accreditation will secure full registration status, which is effectively a license to operate as a private landlord inWales. Failure to do so could result in penalties or other sanctions, proportionate to the failings in compliance. Codes of practice will be developed for landlords and agents.”