Guide For Landlords

Rent Smart Wales regulation states the following licence condition on all agent licences:

The licensee must only act on behalf of Landlords of rental property(s) in Wales who have registered with Rent Smart Wales. The licensee must notify their client landlords about the requirements under Part 1 of the Housing (Wales) Act 2014. If after notifying a landlord of the need to register they have failed to do so within 12 weeks, the licensee must provide the name, correspondence information and the address in Wales for which they are the landlord and where the licensee acts on their behalf at, to Rent Smart Wales.

If we are aware of any unregistered rental properties in Wales on a domestic tenancy, the details are required to be sent to Rent Smart Wales to investigate further.

Wingetts Lettings and Management Department are pleased to be able to offer either a Contractor Find Only or Contractor Find and Full Management service. For details of our lettings terms, click here

We will conform to the Royal Institute of Chartered Surveyors (of which we are members) stringent Accounting Policies to ensure your monies are held in the correct Client Bank Accounts.

Below are guidelines that we at wingetts advise that Landlords take into consideration when thinking about letting their property.

The following questions are answered, click on the required question to find the answer:

Why should I appoint a Managing Agent to look after my property?
When letting a property there are many possible pitfalls, a good Managing Agent will minimise the problems and ensure your rights are protected. Under the Housing (Wales) Act 2014, a law has been introduced in Wales which applies to all landlords and letting agents of private residential property. If you own, rent out or manage a rented property then this law will impact on you. The Rent Smart Wales service was introduced to process landlord registrations and grant licences to landlords and agents who are required to comply with the Housing (Wales) Act 2014. Your Agent can advise you on your legal obligation to ensure you are compliant.

Why choose Wingetts for Residential Lettings?
We are a long established local firm of Estate Agents with two offices in the region. Our Homelets department is based in Wrexham currently manages over 800 properties.

How do you assess the Market Rent for my Property?
We will arrange for our Qualified Surveyor to meet with yourselves at the property to advise you of the rental value. This will be based on its location, condition, size, type of property, standard of furnishings and equipment and the market conditions at the time.

Will there be any charge for this advice?
No, our initial advice and valuation is free and without obligation. No charge is made until a tenant occupies the property.

Will the condition of the Property affect the Rental Level?
Yes it will. If your property is well maintained and decorated then you should achieve a higher rental and attract good quality tenants.

How will you find a suitable Contract Holder?
Our extensive local and national contacts both with individuals and companies help us to fund suitable Contract Holders with a minimum delay. We carefully screen prospective Contract Holders and obtain satisfactory references. These include Employment, character and where applicable, Landlord references. We also obtain a credit reference on the applicant.

Who should be informed that I am about to let my Property?
If you have a mortgage then you must obtain permission from your Building Society, Bank or other lender before letting your property.
Insurance companies covering your buildings and contents should also be advised.
If your property is leasehold, it may be necessary to obtain the freeholder's permission to sub-let.

Do I have to pay tax on my Rental Income?
Yes. Rental income is taxable, however there are costs which can be offset against the income. It may be worthwhile contacting a local Accountant for advice.

Who will ensure that the service utilities are transferred into the name of the Contract Holder?
Wingetts will advise the Gas, Electric and water companies of the change in occupants and arrange for meters to be read, together with the Council Tax.

How will I receive my rental income?
Wingetts operate a computerised client accounting system. Net rental receipts will be paid direct to you or transferred into your Bank or Building Society account on a monthly basis. Statements showing all receipts and expenditure will be forwarded to you on the same day that funds are transferred.

If I leave my Property unfurnished, will my right of repossession be affected?
There is no difference in your rights of repossession. We will be pleased to discuss which option is best suited to your particular circumstances.

Are there different types of Contracts?
The introduction of the 1988 Housing Act has brought a greater protection to the landlord. Having established relevant details we will be able to advise you on the agreement most appropriate to your circumstances.

What do I do next?
Contact Wingetts Homelets Department on 01978 353553 to discuss our services in greater detail or if you haven't already done so arrange an appointment for a free rental appraisal.