VTUK’s guide to getting licensed: The Housing (Wales) Act 2014

September 22, 2014

We aim to assist every agent in Wales as the introduction of the Housing (Wales) Act is introduced. From last Friday (19th September 2014) every agent in Wales must know be licensed. The legislation requires agents to register with an approved body such as ARLA or NALS. The agent and the landlords must commit to training and continues professional development. Agents must also ensure two thirds of third staff receive training by the accredited body. If you fail to comply with these restrictions, agents are at risk of a fine up to £50,000. Landlords are at risk of a £20,000 fine. Failure to register is a criminal offence. If you fail to register, agents are at risk of rent-free periods, making it impossible to evict them. To read the full legislation that agents must comply to too in Wales please click here. http://www.propertyindustryeye.com/every-single-letting-agent-wales-will-now-licensed/

Meeting every part of this legislation can be quite tricky, especially if you’re only a small agent. That’s why we’ve outlined the step by step instructions you should take, when it comes to getting licensed with an approved board.

To join ARLA or NALS simply visit their website and click to join the board. You can register as four types of categories these being an ARLA student, ARLA associate, ARLA member or ARLA Fellow. To find out what you qualify for, a short survey must be taken which you’ll be re-directed too during the sign up process. Your qualifications and experience will decide what category you qualify for. After registering with ARLA, you simply do not need to worry, as long as you retain your license. To register with ARLA please click here. http://www.arla.co.uk/Join

If you’re registering with NALS, as a landlord if your companies registered with ARLA, NAEA, RICS or the Law Society, you can sign up using the affiliate scheme. If your company is already registered with ARLA or a similar scheme, NALS recognises that you’ll already be part of the client money protection scheme and so therefore you will not have to contribute.  To sign up a simple application form needs to be filled out, either online or it can be downloaded.

You can also take the non-affiliated route. If your firm is not part of another organisation, you can still complete the application either online or download the form here. NALS requires you as a firm to provide evidence that you hold Professional Indemnity Insurance that meets the following criteria:

  • Cover is on a civil liability basis
  • The limit of indemnity is on an any one claim basis
  • Cover is included for claims arising out of fraud and dishonesty of employees
  • Indemnity in respect of claims arising out of all work carried past and present

In terms of pricing to register with NALS, it is £175 plus VAT as a one off fee. An annual fee of £135 plus VAT can also be paid. To register with client money protection, as a single office its £230 deposit £325 with firms up to 8 offices.

NALS also requires its members to be part of the Property Ombudsman for an annual fee of £15 per office with further charges if any complaints occur.

To download the application form or complete it on-line please click here and scroll down to the bottom of the page. http://www.nalscheme.co.uk/agents/get-licensed-what-you-need-to-know

Founded in 1989, VTUK is the UK’s leading independent property software company. Our award-winning software, widely acknowledged as setting the industry standard, is used by agents nationwide. Our products are bespoke, with specific software solutions for each distinct group of property professionals, including lettings and management agents, estate agents, councils, housing associations and many more.

To find out more about VTUK follow us on Twitter,  Facebook & LinkedIn.

Give us a call FREEPHONE 0800 3280460 or visit www.VTUK.com to find out how we can assist your business.

Alex Evans

You May Also Enjoy

Breaking News

Rental price and average salary tracker – October 2026

Rental prices rise across most regions as affordability pressures persist Average monthly rents increased in eight of the 11 regions between September and October, with Wales recording the largest rise at 31.1%, followed by the North East at 29.8% and the South West at 7.5%. Scotland, London and the North West were the only regions…
Read More →
Letting Agent Talk

Portfolio landlords have outgrown traditional property management

By Adam Hills, Client Services Director, LRG Living Markets The residential lettings industry still manages many large portfolios as though they’re simply collections of individual tenancies. While that works on small portfolios, but it doesn’t work when landlords own 50, 100 or 200 properties. At that point, the challenge is no longer property management alone…
Read More →
Breaking News

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →
Letting Agent Talk

Poor Communication becomes Expensive at Scale

The hidden cost of fragmented property management By Adam Hills, Client Services Director, LRG Living Markets A landlord asks for an update on a repair. The property manager asks the contractor, who is waiting for access from the tenant. Meanwhile, the accounts team has received an invoice but cannot tell whether the work is complete.…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

When Estate Agents Decide to Go Solo

Leaving an established estate agency to work independently gives experienced agents more control over fees, client service and working hours. It also brings responsibility for compliance, cash flow and every part of the customer experience. Before handing in your notice, test the idea against realistic sales volumes, local competition and the amount of time you…
Read More →