Rent Smart Wales is the Welsh Assembly scheme for registering landlords, letting agents and properties. It went into effect in November 2015 and allows owners and agents up to 12 months to register. It applies to anyone who owns residential rental property in Wales, UK.

There are two types of records required for homeowners.

1. The Owners Register is a paid registration for all owners who own residential property in Wales in which they do not live. The fee for this is £33.50 if you apply online and £80.50 if you apply on paper. As part of the registration process, you must provide details of all the properties you own.

When you own jointly owned properties, they are required to be registered in a joint name with a designated primary landlord to receive rent. If you own property in your own name along with joint name property, you will need two separate records. One for individual properties and one for joint properties.

2. The second record is for property management. If you use a leasing agent, all you need to do is link an approved agent for each property. The online system provides a list of authorized Agents through the Rent Smart Wales scheme. The agent has to confirm that he is acting for you and managing the property.

If you choose to manage the properties yourself then you need a license which will cost £144.00 for an online application or £186.00 for a paper application. You will need to attend a training course and pass a test from a Rent Smart Wales accredited instructor to ensure you comply with and are familiar with all the rules and regulations for renting and maintaining a rental property. Training courses vary in price depending on the training company, but typically cost around £75.00.

Since 23rd November 2016, Rent Smart Wales has been prosecuting landlords who break the regulations. Execution orders can include a variety of penalties, from fixed fines to forfeiture of rent and rent payment orders.

Any tenant applying for a benefit, of any kind, is being asked to provide details of the property they are renting and government councils or departments are checking to ensure landlords are registered and authorized to manage the property under the scheme. The councils have the authority to prosecute anyone who does not meet the requirements. Mortgage lenders and insurance companies are asked to make sure they do not lend to or insure unlicensed homeowners.

The registration process is completed through the Rent Smart Wales website. Getting a management license will take a bit longer. Do not breach the Rent Smart Wales registration scheme.