Guidance from the Welsh Government on converted contracts and substitute contracts.
The Government has issued guidance relating to the Renting Homes (Wales) Act 2016 - Amendment of Schedule 12 Regulations 2023.
Property owners who own residential rental properties in Wales need to be aware that Welsh Government has published legislation that amends and clarifies aspects of Schedule 12 of the Renting Homes Wales Act 2016 in relation to converted contracts and substitute contracts that arise after a converted contract ends. Landlords whose contracts converted to occupation contracts on the 1st December 2022, need to consider this guidance and if necessary take appropriate action.
The landlord must notify the contract holder of any change, within 14 days of the difference, either being provided as an updated written statement or via a statement of variation. If the landlord fails to do this, it can lead to financial penalties.
The Renting Homes (Wales) Act 2016 amendment of Schedule 12) Regulations 2023 came into force on June 1st 2023. Please see here for the Welsh Government Guidance notes on this amendment.
