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

Breaking News

Top tips to make your home winter-ready for a successful sale

Following the festive period, many people turn their thoughts and attention to potential new year property aspirations. Traditionally, record numbers of people jump onto property-related websites after Christmas and into the New Year, so it’s a great time to consider marketing your home, knowing there are tens of thousands of extra people seriously considering a…
Read More →
Breaking News

Propertymark Annual Sales Price Report 2025

With housing being a fundamental need and playing a vital role in the UK economy, a strong housing market is a vital factor, this report examines the strength of the housing market and looks at average prices year on year. Headline figures The entire of 2024 vs 2025 The number of properties placed for sale…
Read More →
Breaking News

Lloyds reveals its 2025 housing hot spots

Plymouth property prices up +12.6% over the past year   Hull joins the top 10, up +6.5%, and fresh from being named a 2026 ‘Best of the World’ destination by National Geographic   Value of a London home dipped slightly (-0.1%) but remain the most expensive overall, averaging £574,514   Amanda Bryden, Head of Mortgages…
Read More →
Breaking News

2025: A landmark year for UK renters and homebuyers – what consumers need to know

From major rental reforms to new powers tackling unsafe or empty buildings, 2025 has become one of the most transformative years for housing across the UK. Whether renting, buying, or managing a property, millions of people will feel the effects of the changes rolling out nation by nation. Propertymark has broken down what these changes…
Read More →
Estate Agent Talk

Are ‘for sale’ boards becoming obsolete?

Earlier this year, Westminster Council announced that it would apply to ban estate agents from displaying sales boards outside residential properties in the local area; now, Epping Forest Council is the latest to follow suit. With this in mind, Jack Malnick, Property Expert and Managing Director at Sell House Fast has shared his thoughts on…
Read More →
Christmas Decorations - Good or Bad for Selling
Breaking News

A More Affordable Christmas for Homebuyers

The latest research from award-winning mortgage adviser, Alexander Hall, has revealed that – despite the government failing to leave any affordability-focused initiatives under the tree in the recent Autumn Budget – this Christmas is shaping up to be a far more positive one for the nation’s homebuyers, as borrowers entering the market today are benefitting…
Read More →