Propertymark’s View on Improving Private Rental Sector Regulation

A call has come from the Welsh Government  to conduct an evaluation of Rent Smart Wales and its objectives. 

There has been an online survey to landlords, agents, and tenants alongside a series of in-person workshops as part of the review.   

Propertymark, the lettings agents’ trade body, has offered these recommendations for change.

The professional body has recommended that Rent Smart Wales should be open to greater scrutiny from the Welsh Assembly and progress towards a strategic document to make them more accountable to the sector. 

Rent Smart Wales is currently only subject to very little scrutiny, and Propertymark believe there would be positive progression should a more structured approach be implemented.   

Further suggestions have included Rent Smart Wales agreeing on set objectives with performance indicators to test how successfully they are meeting their initial strategy. Additionally, improved financial transparency of the money raised from licencing is required to provide landlords and agents with further confidence.   

There is still concern regarding landlords who have not registered with Rent Smart Wales, which can result in a failure to enhance standards, non-compliance with the law, and police tenants failing to gain references from landlords. A larger proportion of landlords could have been successfully registered if it was stressed how vital the process is to the sector.   

Further recommendations include a need for improved communication within the private rental sector in general. This includes tenants having more understanding of Rent Smart Wales’s work, and greater awareness of grants and practical information for landlords and agents.   

Finally, Propertymark has urged the Welsh Assembly to consider extending the training requirements to a qualification to improve the sector’s professionalism rather than relying on a day’s training course as a minimum to comply with the myriad of legislation that exists across the sector.  

Tim Thomas, Policy and Campaigns Officer at Propertymark, says: “No one can doubt Rent Smart Wales’ impact on the private rented sector in terms of its ambition to drive up standards. 

“However, more needs to be done to raise awareness of the organisation amongst tenants as well as improve communication with the sector including sign posting of grants and practical information for landlords and agents. 

“It is vitally important for transparency that Rent Smart Wales is more frequently audited and Propertymark would like to see annual scrutiny by the Welsh Parliament on its role and whether it is meeting a set of strategic aims. 

“We have also long said that a one-day training course isn’t sufficient enough and more needs to be done to move a qualification-based model for agents to enhance knowledge and further drive up standards for tenants and landlords.”

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