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  • Welsh PRS

    Changes in Wales

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    I was expecting PT to be full of discussions on the changes being made in Wales, but there is very little discussion, if any. Are there any Welsh landlords subscribed to PT? I would be interested to hear comments and views on the following:

    Rent Smart Wales https://www.rentsmart.gov.wales/en/ Is this improving the Welsh PRS?

    Land Transaction Tax http://gov.wales/funding/fiscal-reform/w...x/?lang=en What are the pros and cons? Is it expected to impact property sales?

    Occupation Contracts http://gov.wales/topics/housing-and-rege...l/?lang=en Are these being discussed? What are the pros and cons of the changes?

    Abolition of RTB http://gov.wales/topics/housing-and-rege...s/?lang=en How is this perceived? Is there expected to be an effect o nthe PRS?

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    I rent out a home in Milford Haven and one in Cardigan....so I was pleased to get your comment about  Welsh landlords. I took that exam for rent smartwales as one tenant is a friend and I don't want to join an agency for him, I didn't even know about the other three links. Thanks

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    I’m not a fan of Rent Smart Wales, however the staff are really helpful and they have hit some rogues LL which is good. Think the scheme is better than what Croydon Council setup as that were more to get money from LL.

    the stamp duty changes has less impact on lower priced properties, however you still have the 3% surcharge for 2nd homes, which I had hoped they would scrap.

    In general Wales is not against LL and they understand they need us (I believe).

    What would be nice to have standard rules across UK and not specific rules from region to region.

    What is your own views?

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    I'm not yet in Wales, but planning to move there later this year.

    I have found RSW to be very helpful and quick to respond to my enquiries. As a potential residential landlord I see licensing as a necessary inconvenience to deal with rogue landlords. It's interesting that they only require registration for tenancies, not licences, unless its for an HMO.

    At the value of properties I'm looking at, LTT is cheaper for both residential and commercial. It's a 'nice to have' as a landlord but I hope it will be of greater help to those starting on the property ladder.

    I don't understand the Occupation Contracts even after reading the Renting Homes (Wales) Act 2016. As RSW are still discussing tenancy agreements I can only assume it is not an imminent change as it may alter the requirement for registration.

    I've never been in favour of RTB. Wales' decision to abolish it should secure more properties for those that chose/need the SRS. I don't believe that this will have a negative effect on the PRS.

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    @Gary

    I'm surprised  more LL aren't heading  for Wales.

    If I was to invest for yield Wales is where I would go

    Forget the North.

    Wales still has a largely Welsh demographic.

    Not so much diversity as the North has.

    Wales also has a nice perception of a place to take holidays to.

    The North doesn't have this at all.

    Now that the greening effect over the old coal mines has occurred there is definitely  a perception of green valleys again as it must have been before coal was discovered.

    Rent Smart Wales is to some extent reducing the amount of unfair competition posed by rogue LL.

    This can only mean robust rents.

    England is nowhere near achieving such as Wales.

    Rogue LL abound in the North especially  amongst certain parts of the population  few of whom have traditional  English names.

    I can't remember a time that there was a Mr Smith rogue LL.

    RSW is at least a start

    It is certainly better than nothing and has a value all of its own.

    It motivates Good LL to sign up to it as they can see action is being taken against unfair competition  rogue LL.

    I would imagine RSW will become more onerous but only to ensure the quality of rental property.

    It simply is not the view of RSW to charge LL excessive fees.

    All they want to know is where all their LL are so they can best provide a quality PRS for their citizens.

    LL can't argue with such admirable aspirations.

    Good Welsh LL have nothing to fear.



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    Please do not encourage people to invest in Wales I prefer it being quite Smile

    However I must agree with your comments. Generally I’m not a fan of licensing however you are right it is good against rogue LL

    Two issues about Wales. 

    1. Some names are really hard to pronounce (actual I can’t pronounce them)

    2. It does rain quite a bit in Wales

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    As regards rain

    Well no more than Ireland which is why it is the Emerald Isle

    Not once have I sat outside last year

    So rain doesn't make much difference.

    But I would tend to buy in the SW if I wanted better weather but that is unaffordable.

    Wales is the SW with rain!

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    It does often appear that the only choices are either the South East or the North - I'm never quite sure where the North ends, does it include Scotland where the rules are different again?


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    My view is that the north will refer to the north of England and therefore exclude Scotland. Scotland seems a little anti LL.

    some years ago I made the choice to invest in Wales as SE (where I live) is to expensive and I didn’t want to do like everyone else and invest up north. However I also had a contact in Wales who has helped me and know the local market.


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    What prompted you to choose Wales, other than your friend? Where in Wales did you choose?

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    I spent 6 month doing volunteer work for my church in Bridgend when I were 20 years old and also remember some history lesson in school about Wales and the valleys, that let me to start doing some research on price vs yield etc. I noticed that prices has not increased % wise as much as SE however when I invest I look at yield and not capital growth as that is not certain.

    My first place were a flat in Pembroke purchased on auction and since then all new purchase are in South Wales. Most of my properties are around Swansea. I have stayed away from the valleys as I know it has a different demographic.

    i Understand there is a big difference between north and South Wales and I think South fit me better and it is easier for me to get to.

    Maybe my upbringing also makes me prefer Wales compared to North of England as I grow up in the country site close to small towns and village. The towns in Wales are smaller and it is not as built up as Manchester, Birmingham and Liverpool.

    I like Wales and see huge potential there, it has been a sleepy dragon, but things looks like they are changing. Cardiff seems like a hot market and will continue to perform well I expect but also have higher property prices compare to Swansea.

    Also, people are friendly there and generally helpful.


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