On 1st September 2019, Wales will introduced a tenant fee ban to lettings across the country. What does this mean for you if you’re a tenant, a landlord or an agent?
The new act that comes into force will make it an offence to charge a tenant any payment that is not specified as a “permitting payment”. This means, as a tenant, you can’t be charged for things such as:
- receiving an inventory
- signing a contract
- renewing a tenancy
- being accompanied on viewings
If you’re a landlord or an agency, you’ll only be expected to require payment for:
- security deposits
- holding deposits
- payment in default (late payment of rent charges)
- payments in respect of council tax, utilties, TV licence etc
The new bill will also cap the amount of holding deposit request, to equal a weeks rent, and ensure provisions for their prompt repayment. It’s quite a big change in the letting world, so if you’re a tenant or a landlord (running the property yourself), make sure you’re up to date on what these changes mean for you.