RENT SMART WALES LICENCE FEES SLASHED FOR AGENTS.

March 23, 2016

Rent Smart Wales has revised the cost of a licence for letting and management agents following concerns from UKALA that the proposed fee would have a detrimental impact on standards and professionalism in the private rented sector.

UKALA raised concerns that the proposed fee of £3,728 for a 5 year licence was too expensive and that it could force many small-to-medium-sized agents to forfeit their membership of a trade body, which already assist in improving standards and professionalism within the sector.

UKALA advocated for a graduated licencing fee structure based on the size of the agent’s business, as well as reduced fees for agents who already belong to a trade body.

The new fees, which will take effect from the 25th April 2016, will mean that agents with between 100-500 properties will see a fee reduction of almost £1000.  The full set of fees can be viewed on the Rent Smart Wales website https://www.rentsmart.gov.wales/en/faqs/#15

Richard Price, Executive Director of UKALA, said:

“We felt that the initial proposed fee was too high for the majority of agents to absorb, and that there was a real danger that it would lead to a significant decline in membership of reputable bodies like UKALA and consequently standards.

“If the licence fee is too high then many agents would have to end their membership simply in order to comply with the law, which is completely against the spirit of this legislation.

“We’re delighted that Rent Smart Wales has been so receptive in listening to  our proposals for graduated licence fees – demonstrating that government and industry can work together effectively.. It means that most UKALA members and many other agents will see a significant reduction in cost of obtaining a license as a result of our efforts”.

Breaking News Post shared by: Sam Haidar, PR Manager, UKALA.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Estate Agent Talk

Boost Spring Valuations: Is Upgrading to Double Glazing Still a Top ROI?

Come spring, the property market always picks up pace. As an estate agent, you know the questions start flooding in from homeowners wanting to maximise their sale price. Top of the list for many? Windows. Specifically, is splashing out on new double glazing actually going to deliver a worthwhile return when they sell? It’s a…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

COVID five years on: City and coastal trends reverse as homes by the sea take longer to sell

Rightmove’s new report looks at how the market has changed five years on from the pandemic starting Many city and coastal trends have now reversed, with homes near the sea taking three weeks longer to sell compared to 2020, and the majority of buyers in the capital looking to stay rather than leave London A…
Read More →
Estate Agent Talk

What it takes to make real estate development financing work

By Daniel Austin, CEO and co-founder at ASK Partners Securing financing for real estate development has become an uphill battle. With interest rates still elevated, inflation pushing construction costs higher, and planning delays introducing further uncertainty, developers face a challenging environment. Traditional lenders, constrained by regulatory pressures and rising risk aversion, have scaled back, creating…
Read More →
Home and Living

Signs Your Roof Needs Professional Repair: Don’t Ignore These Red Flags!

The roof of your home is one of its most vital components. It serves as the first line of defense against the elements, shielding you and your family from rain, snow, wind, and UV rays. A sturdy roof also enhances the energy efficiency of your house, helping to regulate temperature and reduce heating and cooling…
Read More →
for sale sign london
Estate Agent Talk

Cheap Local Estate Agent

How much is the average estate agency fees in England for 2025? The figure of 1.42% (including VAT) is the average estate agency fee in 2025. This average fee for selling your home can vary with figures between 1% and up to 3.5%, there may be some lower and higher too. How you are looking…
Read More →
Estate Agent Talk

The Future of Real Estate: How Technology is Revolutionizing the Industry

It is also evident that the real estate industry is going through a lot of changes mainly due to changes in technology. Technology is changing almost every aspect of the industry and this includes the purchasing, selling, and advertising of properties. Consumers need a more efficient and enhanced form of transactions, real estate professionals must…
Read More →