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Before your tenancy starts you have a lot of things to consider as a landlord. How will you market the property? What do you need to do to prepare the property ahead of renting it out? How do you find a suitable tenant? Getting the right answers to these questions is one of the best ways of ensuring a stable tenancy with responsible tenants.
Rent Smart Wales
Last Updated: 13/08/2020
As a result of the Housing (Wales) Act 2014, landlords with rental properties in Wales have been required to be registered with the Welsh licensing authority, Rent Smart Wales (RSW). Landlords who undertake any management duties for any of those properties must also be licensed with RSW, as must all letting agents.
Last Updated: 22/07/2020
Once you have decided you will enter into a tenancy you may receive a deposit. Often the holding deposit will be used as part payment of this tenancy deposit.
This deposit needs to be protected within 30 days of receipt of any of the deposit money. It is important that you ensure you are complying by choosing a scheme and following the rules around deposit protection.
Marketing your property
Last Updated: 11/07/2020
The Competition and Marketing Authority has produced guidance for lettings professionals on how to market your property to tenants. If you are an agent it also provides guidance on how to market services you provide to landlords
Read the complete CMA guidance: https://www.gov.uk/government/publications/consumer-protection-law-for-lettings-professionals
Last Updated: 21/08/2020
As part of complying with the General Data Protection Regulation you are expected to provide a privacy notice explaining how you use the personal information you hold about any individual in the course of your business. This will include any prospective tenants or guarantors once you are in contact with them.
Have you checked what personal information you hold? Download our audit template
Need a privacy notice? Use our privacy notice template
Last Updated: 05/07/2020
Before your tenancy starts you will need to ensure the property is safe for the tenants to live in. Many of these obligations also require you to provide your tenant with proof that you have performed a check.
This guide provides you with a short summary of your legal obligations around property conditions that you will have to meet before the tenant occupies the property.
Last Updated: 22/07/2020
Referencing is one of the most worthwhile things you can do as a landlord to protect the value of your investment. By referencing your prospective tenants before you grant the tenancy you maximise the chances of getting one of the many responsible tenants, and minimise the risks to you and your property.
Need a credit check? Get one here
Last Updated: 11/08/2020
Until recently it was standard practice for landlords and agents to charge fees covering the cost of referencing and credit checking tenants. Since the introduction of the tenant fee ban, most fees charged to tenants are now prohibited under the tenant fee ban, including those for referencing and credit checks.
You can continue to take a holding deposit prior to the tenancy being granted but there a number of rules and requirements around its use and the amount that you may take. A holding deposit continues to be an excellent way of ensuring the prospective tenant is committed to taking on the tenancy.
Taken a holding deposit? Download our holding deposit form
Need to refund or retain any part of it? Use our sample notices
Last Updated: 27/07/2020
A guarantor is someone who agrees to pay the rent or damages relating to a tenancy if the tenant is unable to pay. Normally they will be a family member or close personal friend of the tenant and also a homeowner in the UK.
To ensure the guarantor is legally bound to guarantee the terms of the tenancy, the NRLA provides two separate deeds of guarantee -