If you do, you must appoint a local managing agent.
It wasn't given much publicity when it was introduced back in May 2018, but Rent Smart Wales now insist on landlords living within a 200-mile radius of their rented property. It means self-managing landlords living as far north as Leeds or as far east as Cambridge from Cardiff must instruct the services of a more locally-based managing agent.
The official wording, taken from Rent Smart Wales' FAQ page, is;
"Landlords who live outside of England, Scotland and Wales or more than 200 miles from their rental property are required to appoint a local agent, unless they have a locally-based staff member formally employed on a contract of service."
The definition of "local" is to be within 200 miles of the property.
As experts on the newly-introduced Rent Smart Wales landlord registration and licensing scheme, we're here to help landlords comply with the new legislation put on them.
Due to an increasing amount of 'red tape' put in place by the local authority and Welsh Government in recent years, many landlords have taken the decision to instruct an agent to manage their properties on their behalf.
By instructing us to manage your property, we will...