Currently viewing the tag: "white paper"

Thousands of landlords with rental properties in Wales will be forced to sign up for a new Buy-To-Let licensing scheme before they can rent out a home in the region.

The proposal is included in a housing white paper launched by the Labour-controlled Welsh Assembly Government and applies to every landlord letting a rental property within the Wales region, regardless of where they live in the world.

Buy-To-Let (BTL) and House In Multiple Occupation (HMO) landlords will have to show they are ‘fit and proper’ to hold a licence and must not rent out a property until they have successfully registered.

Once registered, the landlord must follow a code of practice aimed at improving tenant living standards.

Housing minister Huw Lewis said: “This is about much more than putting a roof over someone’s head. Housing issues affects people’s health and wellbeing and their ability to find and keep a job. For children, it is the foundation for the rest of their lives. Housing is fundamental to delivering many of our goals as a progressive government. This paper reflects our strong commitment to equality and social justice and our desire to do all we can to help people to meet their housing needs. We will be ambitious, innovative and collaborative to deliver real change to help reduce poverty, tackle the inequalities that exist between some of our communities, increase skills and jobs, tackle climate change and help improve health and well-being.”

The code of practice will also be applied to all property lettings and management agents across Wales.

The Government white paper states “Some people have to endure poor conditions, insecurity and, sometimes, threats of eviction. The latter, combined with the lack of other options, means that many people, often vulnerable people, put up with the questionable practices of some landlords and lettings and management agents. Accreditation will secure full registration status, which is effectively a licence to operate as a private landlord in Wales. Failure to do so could result in penalties or other sanctions, proportionate to the failings in compliance. Codes of practice will be developed for landlords and agents.”

There Will Never Be A Better Time To Invest In Property helps property investors and landlords build their own property power team to enable them to profit from property - Visit our main site now!