Posted 10th March 2022
Whether you’re a tenant or landlord in Wales, you need to know how the ‘Renting Home Act’ will affect you. Coming into effect July 15th 2022, the act will change the way landlords in Wales rent their properties.
Let’s take a closer look at the changes and impacts of the ‘Renting Homes Act’, as well as how e-signatures can help to support landlords with these changes.
The act will affect all social and private tenants and landlords, including those who rent their properties through management companies and agents.
For tenants, you can expect to see changes to:
For landlords, you’ll be required to:
Tenancy agreements will be replaced with ‘occupation contracts’, with tenants and licencees becoming ‘contract-holders’. The ‘Renting Homes Act’ aims to make renting easier, as well as provide greater security to contract holders.
Here’s what’s changing for tenants, according to Gov.Wales:
According to Gov.Wales, the ‘Renting Homes Act’ will mean the following for landlords:
With landlords/property managers now obligated to provide a clear, written contract to tenants, having the right e-signature has never been more important. Whether you’re a property management company or individual landlord, managing your occupation contracts digitally, with the help of an e-signature, can bring multiple benefits, including:
Saving you time
It’s no secret that physical paperwork is outdated but many people still insist on pen and paper signatures. Creating these documents can be time-consuming; you’ll need to print, sign and scan your paperwork and then either email it to your occupants or send it via the post. All of these steps add up, especially if you’re responsible for multiple properties.
With an e-signature on the case, you can e-sign and send your occupation contracts in just a few clicks, saving you valuable time on managing your rental properties.
Simplifying document management
By going digital, you’re not only saving yourself time but also simplifying your document management. Eliminating printing and scanning makes creating, signing, and sending your document so much easier. It also streamlines the signing process for your occupants.
Sending an email or paper copy creates work for your signers- many of whom may not own a printer or scanner to print and sign your paperwork. This can increase document turnaround time, especially if they have to post it back to you. Using an e-signature allows your tenants to view and sign your documents in just a few clicks.
Saving money on paper/postage
If you’re a property management company or a landlord of multiple properties, you could be spending more money than you realise on sending out occupant contracts. Most of the time, these kinds of contracts will consist of multiple pages- especially as you’re obliged to set out all your tenant rights and responsibilities.
Printing out large documents can be costly. The cost of ink and paper adds up, as does the postage and stationery costs. Keeping your documents digital can eliminate all of these costs- all you’ll need is a monthly payment for your e-signature provider.
Simplify Document Management
Our document management platform can help to simplify your document processes, allowing you to create, e-sign and send your occupation contracts in just a few clicks.
With the ability to drag and drop editable features and e-signatures onto your documents, we make it easier for you and your clients to e-sign your contracts.
Complete Digital Toolbox
With a complete digital toolbox including an ID checker and payment gateway, you’ll have everything you need to keep your documents digital.
E-Sign is a leading provider of digital transaction management solutions, supplying professional services including Electronic Signatures, Web Forms, ID Checker, Verification Tools, Personalised Emails, API and Payment Processing to businesses of all sizes across the UK.
To find out more about our E-Sign solutions and how they could transform your business, get in touch with us today.