Most letting fees for tenants in Wales have been banned from 1 September 2019. Be prepared for the changes: know how it will affect the people you work with.
- 1 in 4 renters in Wales who have used a letting agency have been charged excessive fees
- More than 1 in 3 have been charged over £200 in admin fees at the start of their tenancy
There is no doubt that getting set up in a private tenancy can be eye-wateringly expensive. Not only must new tenants find thousands of pounds upfront for tenancy deposits and rent in advance – but until now there has been little control over the fees that landlords and agents charge before and during a tenancy.
The long awaited Renting Homes (Fees etc.) (Wales) Act 2019 has come into force in Wales on 1st September 2019. This will dramatically impact the payments that Letting Agents are able to take in relation to tenancies.