Landlords have been warned that if they have properties in the Dee Valley and Dŵr Cymru Welsh Water authority area they are now subject to new regulations by the Welsh Government under the Water Industry Act which came into force on the 1st January this year.
According to a report on landlordtoday.co.uk, if landlords who are affected by the new regulations fail to provide the water companies with some basic tenant information they will become jointly liable for the tenants water debts.
Although most of the properties are in Wales there could be some that fall within Cheshire, Herefordshire, Shropshire and Gloucestershire.
Landlords have 21 days from 1st January to supply the details for all of their existing tenants and from then on 21 days from the start of any new tenancy agreements. It is the aim of the Welsh Government to reduce the number of people in debt due to inability to pay their water bills. The cost to cover the debts is met by those who pay their bills, which according to the report adds a further £15 to £20 to each bill per year.
The aim of the new regulations is to provide tenants with help when budgeting for their water bills and to make sure that useful information about payment plans, assistance funds and social tariffs is available to those tenants who need it.
If the water to your let property is supplied by either of the affected water regions it is vital that you comply with the new regulations to ensure you don’t find yourself jointly liable for your tenant’s water debt and thereby making any rental property a potential financial burden for you.
Anyone investing in the buy to let market should ensure they comply with all legal regulations and consider any additional costs including landlord buildings and contents insurance. Click4quote.com provides landlord let property insurance for a number of tenant types including students, working and those on benefits. Why not call us for more information or get a quote online today.