What action is the Welsh Government taking to ensure that managing agents of leasehold properties adhere to Rent Smart Wales requirements and follow good practices, including obtaining membership with the Royal Institution of Chartered Surveyors?
The registration and licensing requirements in Part 1 of the Housing (Wales) Act 2014, for which Rent Smart Wales is the designated licensing authority, apply to a ‘domestic tenancy’ as defined in section 2 of the 2014 Act. This definition does not include long leases and membership of professional bodies does not form part of the licensing conditions.
We have already taken significant steps to improve the position of leaseholders subject to service charges for property management, via the Leasehold and Freehold Reform Act 2024. I look forward to working closely with the UK Government on further leasehold reforms, following the announcement of an upcoming draft Leasehold and Commonhold Reform Bill in the King’s speech.