by Nick Smith
Wednesday, July 5th, 2017
Rent Smart Wales Training
Office day out from our office was booked recently and to be frank I was not jumping up and down about the thought of a nine hour day surrounding the new legislation effecting landlords and rental properties.
It was a prompt 9am start that was to conclude with a test, that if you passed meant you can act on behalf of landlords or if you are a landlord meant you could carry on being one and managing your own properties. Sound interesting? It didn’t to us either but as it was a new requirement we wanted to be early adopters and show willing so we booked onto the course.
Course started and to be fair there was lots of good stuff in there and some great anecdotal stories from the course tutor and fellow Estate Agent. The course covers lots of fine detail about the new legislation and why it was brought in along with the pit falls that landlords will face going forward. It was nice seeing so many Cardiff estate agents
at the training also.
My feelings are that it will go a long way in cleaning up the industry and it will take out some of the rogue landlords and their shady practises from the market. Tough guidelines and unlimited fines will be a deterrent and if the are not jail sentences probably will but I do also think that many occasional landlords will be scared off, and I don’t think this is a good thing at all.
The worry for me is that this enhanced legislation and need to register and go on courses will put many off making property their investment choice for the future and this is a bit sad. Big corporates and serious landlords will take over and I am not convinced this will lead to a better rental market for the consumer.
What is certain though is that if you have a rental property this course is a must and will highlight many areas you will need to be on top of. Getting a Estate Agents to manage your property may now be a much wiser choice as the red tape and constant evolution of this legislation change and the ongoing bureaucracy may leave many with little time to do anything else but keep on top of it all.
The course does end with a test and I am delighted to say we all passed with flying colours and are now in a position to advise you on your next move.