Lettings agents need to be prepared for Renting Homes Fees Welsh Act
Lettings agents need to prepare themselves for the upcoming Renting Homes Fees Welsh Act coming into force on 1 September 2019, ARLA Propertymark has warned.
The act will ban tenants from being charged for receiving an inventory, exit fees, an accompanied viewing, signing a contract or renewing a tenancy.
David Cox, chief executive, ARLA Propertymark, said: “Sunday marks the four-week countdown to when the Welsh Tenant Fees ban comes into effect.
“It is essential that agents get to grips with this legislation, understand the impact it will have on their business, and prepare for 1 September.
“To help agents, we have two roadshows, first taking place on Wednesday 7 August in Cardiff and in St. Asaph, Denbighshire on 8 August.
“The events will go through the intricacies of the ban, providing key insights on how businesses can thrive in a post tenant fees world, and we urge all agents to attend as we rapidly head towards September.”
The act will allow letting agents and landlords to only charge fees relating to holding deposits, utilities, television licence, rent, security deposits, communication services, Council Tax and payments in default.
It will also cap holding deposits to the equivalent of one week’s rent, provide a regulation-making power to limit the level of security deposits and create a clear, simple and robust enforcement regime for when offences occur.
The enforcement regime will allow for Fixed Penalty Notices of £1,000 to be issued against anyone requiring a banned payment.
If penalties are not paid, enforcement authorities can prosecute offences through the Magistrates Court.