Guide for Landlords
Whether you’re an experienced landlord or letting your first property, with over 170 pieces of legislation governing lettings services, it is important to choose an agent who is fully conversant with all the legal requirements to protect both you and your investment. The most recent change to housing legislation in Wales has been the introduction of the Renting Homes (Wales) Act 2016 which came into force on 1st December 2022 and is the biggest change to the rental sector for a generation, altering enormously the way in which landlords rent out their properties. The new law aims to achieve a simple and effective basis for renting a home with a clearer and more logical framework which is standardised across Wales. Standard Occupation Contracts have replaced Assured Shorthold Tenancies (AST’s) and tenants are now known as Contract Holders.
Unlike the other nations in the UK, in Wales, private and public landlords are regulated by Rent Smart Wales, a licencing authority hosted by Cardiff Council in partnership with the 22 Welsh local authorities to ensure compliance with legislation. As a landlord you must be registered with Rent Smart Wales and letting agents, and landlords who let and manage properties themselves, must be licensed with the authority too. We employ the best staff to provide guidance in valuing your investment, advising you about your obligations and compliance with the myriad of housing legislation and ensuring that the right contract holder is sourced for you.
Our lettings service is managed by Harriet Eccles who is Rent Smart Wales Approved.
We offer two tiers of service:
Let Only Service
We will market the property as available to let and once we have found a contract holder we will:
- Arrange references
- Prepare the standard occupation contract
- Collect and hold a bond
- Collect and submit the first month's rent statement and arrange payment of future rent
- Arrange a date for the check-in
Full Property Management Service
We will market the property as available to let and once we have found a contract holder we will:
- Arrange references
- Arrange a rent guarantee policy, optional extra
- Organise mandatory safety certificates and keep them up to date
- Prepare the standard occupation contract
- Prepare a written and photographic Inventory, for an additional fee
- Collect and hold a bond
- Rent collection, payment, and monthly rent remittance
- Arrange the contract holder check-in
- Notify the local authorities and utility providers (except telephone and tv licence)
- Manage any rent arrears
- Make regular visits to the property
- Provide property maintenance support
- Manage contract holder queries and all negotiations relating to the property
- Wherever possible we will carry out an advisory pre-check out with the contract holder
- Serve a Notice of Possession, for an additional fee
- Arrange a final check-out to check the condition of the property against the inventory
- Notify the local authorities and utility providers as above
- In greater detail, our full service is outlined as below
Optional extras at an additional cost
- Serve a Notice of Possession
- Mandatory certificates
- Tax statement
- Detailed photographic inventory
- EPC
- Rent Guarantee Policy
Landlord Fees:
Let Only Service
One month’s rent inclusive of VAT and Bond Registration fees, payable at the start of the occupation contract. Unless otherwise agreed our Let Only Fee includes a standard reference (which includes a credit check, employer’s reference and previous landlord reference) (subject to policy conditions).
Full Property Management Service
A set-up fee of 50% of 1 month’s rent + VAT (subject to a minimum fee of £450.00 inclusive of VAT) in addition to a management fee of 12% inclusive of VAT (10% plus VAT) of 1 month’s rent (subject to a minimum fee £45.00 per month inclusive of VAT) starting from the first month.
Tenancy Deposit Service dispute negotiation charge
If there is a dispute between the Landlord and the contract holder regarding the bond at the end of the occupation period, we will mediate in negotiations between all parties. For properties where we have provided a let only service, there will be a charge of £100 plus VAT. For fully managed properties, there will be a charge of £50 plus VAT.
Membership Schemes
We are a member of The Property Ombudsman Redress Scheme.
We are in a Client Money Protection scheme operated by Propertymark.
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