All landlords with rental properties in Wales must be registered, and agents and self-managing landlords must have a licence to let and manage work at rental properties in Wales.
Since November 23, 2016, enforcement powers have been active and landlords and agents who are not complying with the law could face a variety of sanctions including prosecution, fixed penalty notices, rent stopping and rent repayment orders. Local authorities across Wales, including Denbighshire Council are working with Rent Smart Wales to identify those still not complying with the law. Councils are now prosecuting those who have failed to comply..
If you are a landlord or agent yet to comply, don’t delay. It’s important that you take the necessary steps now to comply and avoid action. You can register, apply online and find out more on the Rent Smart Wales website.
Letting out all or part of your property could give you a regular income, whilst providing a home for someone.
Deposits and bonds
There are strict rules about how you should handle the deposit you receive from your tenants. There are three deposit protection schemes available: two insurance-based schemes where you, the landlord, pay a premium so that you can keep the deposit; and one custodial scheme, where the deposit is held on your behalf, free of charge, until the end of the tenancy.