Letting agents in one part of the UK need to be ready for the most significant changes to the private rental sector for many years according to a trade body.
Paul Offley, compliance officer at The Guild of Property Professionals, says agents in Wales need to be able to provide their landlords and tenants with the best possible guidance.
From July 15 the Renting Homes (Wales) Act 2016 will change how landlords in Wales rent out their properties.
“Whether you are a landlord, or a letting or managing agent, the changes will affect you and it is important to understand how to implement these into your business to remain complaint” Offley says.
“In Wales, tenancies will become occupational contracts and tenants become contract holders. Landlords will need to give their tenants six months’ notice on no-fault evictions, which cannot be served until the first six months of the new tenancy has passed.”
There are also changes to joint contract holders’ rights, as well as the introduction of succession rights for contract holders.
Offley continues: “The new legislation goes through various other aspects pertaining to a rental agreement in Wales, including a property being fit for human habitation. It is important that lettings agents familiarise themselves with new changes and integrate them into the business practices going forward.”
The Guild will be hosting two Rent Smart Wales events for member agents: the first event will be in Llandudno on May 19 and the second the day after in Cardiff on May 20.
“As with any change in legislation it always brings some resistance, however, the key is to remain calm and work through the details. We will be working with our Guild members in Wales over the coming months; helping them understand what is required and what preparations they can start to make now so that it does not have a massive impact on their businesses and their clients” says Offley.
“Landlords and agents who are fully prepared for the coming changes will find them easier and they will be in a much better position to assist their clients adapt to the new requirements.”