We appreciate that whatever your expectations of Letting Agents in Wrexham, they should all meet a minimum regulatory standard. Complying with the Housing (Wales) Act 2014 obligations, Northwood Wrexham is a registered landlord and licenced agent with Rent Smart Wales.
Wrexham Office 01978 356100
Landlord Compliance
Renting Homes (Wales) Act 2016
The Renting Homes (Wales) Act 2016 represents the biggest change to housing law in Wales for decades. It increases protections for tenants and licensees, who are termed ‘contract-holders’ in the legislation. It introduces a six-month notice requirement for a landlord to end a contract where the contract-holder is not at fault, provides protection against retaliatory eviction and ensure properties are fit for human habitation.
Rent Smart Wales
To let a property in Wales a landlord must be registered with Rent Smart Wales and to let and manage rental properties a landlord must have a license or use an agent that has a license. Northwood Estate and Letting Agents in Wrexham is a registered landlord and licensed agent.
Propertymark
For your added peace of mind, we are accredited by Propertymark. To be accredited, we demonstrated that we have met defined letting and management standards, offer independent redress and hold Professional Indemnity insurance as well as belonging to a Government approved Client Money Protection Scheme.
Client Money Protection
As a property management letting agency our clients’ money is held in a bank account authorised by the Financial Conduct Authority and protected with the Propertymark Client Money Protection scheme. This means that when letting a property our landlords and tenants will be compensated if we couldn’t repay their money for any reason. This is different from tenancy deposit protection.
Tenancy Deposit Protection
Within 30 days of receiving a security deposit for a new Occupation Contract, it will be protected in a deposit protection scheme administered by the Deposit Protection Service. This is to ensure that our contract holders get their deposit back after renting out a house if they met the terms of their Occupation Contract, did not damage the property, and they paid their rent and bills.
Property Ombudsman Code of Practice
As local letting agents, Northwood Wrexham complies with what is generally accepted as good practice in the industry when letting out a property, as defined by The Property Ombudsman Codes of Practice. As is required under the Consumer Rights Act, we publish our letting agent fees and charges which must include VAT. We are members of the Property Ombudsman (TPO) scheme providing our clients with an alternative dispute resolution service.
Money Laundering Supervision
Our team of property professionals receives regular training in money laundering supervision. In compliance with Money Laundering Regulations (AML) Northwood Wrexham is registered with HM Revenue and Customs.
Data Protection
Northwood Wrexham is also registered with the Information Commissioners Office. We comply with our obligations under the Data Protection Act, to protect personal information and providing access to official information.
Continued Professional Development
In a fast-moving industry which has forever changing and updated legal requirements, all our staff receive regular training to maintain their knowledge and understanding in the application of more than 400 pieces of legislation. Our process and procedures are subject to an external audit on an annual basis.
What Our Agency Will Do For You
With the increasingly regulated business of letting out a property, it has become more important than ever to employ the services of a licenced letting agency. Too much emphasis is often put on the initial references; as important as they are, a contract holders circumstances can change, and when they do, their ability to meet their outgoings can change very suddenly which can lead to a stressful situation for the landlord.
Managing Rent Arrears
We will liaise with your contract holder to first understand their circumstances and try to find a solution to the cause of their inability to pay the rent. Should it be necessary to seek legal possession of your property, it has become critically important to ensure that the request for possession is strictly served in accordance with the expectations of the judge. At a typical cost of over £1,150, the process of gaining legal possession can extend beyond 12 months, that’s a big loss to rent arrears and even more costly if the judge isn’t satisfied that the correct procedures have been followed. Should our guaranteed rent be your preferred service, you will not be exposed to these financial risks.
Compliance Matters
A private landlord will not be short on enquires from would be contract holders, influenced by their personality and the offer of generous rents; all too often we receive enquiries from landlords who have experienced the anxiety of having to deal with the problems caused by their troublesome contract holders and the organisations supporting them. Then, to find that the landlord has not complied with legislation bringing about the threat of heavy fines, compensation claims, high costs and expensive losses. A private landlord would be wise to consider the benefits of employing the services of a professional licenced residential letting agency when renting out a house.
