The Renting Homes (Fees Etc.) (Wales) Act 2019, banning landlords and letting agents from charging fees to tenants, will come into effect this weekend in Wales.
The Act means that from Sunday 1st September, landlords and agents in the principality will no longer be able to charge fees to set up or renew a tenancy in the private rented sector.
The new law will not just mean a ban on letting fees, but also the majority of other upfront fees payable by tenants to rent a property in Wales.
The Act makes it an offence to charge a tenant any payment that is not specified as a ‘permitted payment’ by the legislation. This means tenants cannot be charged for such things as an accompanied viewing, receiving an inventory, signing a contract, or renewing a tenancy.
The new legislation will see fixed penalty notices of up to £1,000 issued against anyone charging banned payments.
The Welsh government estimates the Bill will save tenants close to £200 per tenancy.
Landlords and letting agents will only be allowed to require a payment for rent, security deposits, holding deposits, a payment in default (when a tenant breaches a contract), and payments in respect of council tax, utilities, a television licence, or communication services.
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More Rent increases for Welsh Tenants, shame the Welsh Labour sheep, I mean party, couldn't foresee the blindingly obvious.
welsh landlords--increase your rents now!
Yep really simple this. Find out how much agent your is gonna charge you going forward add on any possible charges you used to be able to put through divide by 12 along with section 24 increases and voila your new rent. Any questions refer them to their local MP
Yep all very well but shouldn't there also be a RTI on top of the other costs increasing rent and if not then you are standing still
Any business needs RTI or they go out of business.
Just not sure when you add up all the rent increases needed including a RTI whether that would even be viable.
It could be that with the full effects of S24 due to hit plus the other costs many LL now have loss making properties.
So why bother keeping them!?
Boot out the tenants and sell.
We have RPI uplift or 5% whatever greater on all our tenancies. Preps the tenant for the increase after a year. Never used to do this but works well
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