Welsh agencies bracing for impact of Tenant Fee Ban
Wales is the next country to be hit by a ban on tenant fees, when new legislation comes into effect on 1st September 2019.
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Wales is the next country to be hit by a ban on tenant fees, when new legislation comes into effect on 1st September 2019.
Your guide to the English Tenant Fees Act and what letting agents and landlords need to be know about how it affects rent, tenancy and holding deposits, default payments and payments for assignment, novation or variation of a tenancy and early termination of a tenancy.
The Tenant Fees Act becomes law on 1st June 2019 and will apply to all assured shorthold tenancies agreed from this date. But what does this mean for your existing tenancy agreements?
Estate and letting agents must comply with consumer protection law when dealing with landlords and tenants, which includes disclosing all the fees they charge landlords, all the costs associated with letting a property for tenants, as well as any commissions from referrals.
David Cox provides detailed answers to questions from letting agents from around the country about the Tenant Fee Ban.
The ARLA CEO has reiterated the severe penalties that letting agents will face if they are found to have breached the new legislation from 1st June.
This morning we hosted the third in a series of webinars with ARLA CEO David Cox, focusing on the impact of the Tenant Fee Ban.
“You need to be able to adapt very quickly to changing market conditions,” says one lettings director, whose agency is exploring new avenues to help them overcome the Tenant Fee Ban.
The ban on tenant fees, coupled with the popularity of deposit replacement schemes, means it could cost renters much less to move home when the Tenant Fees Act comes into effect, and potentially increase the demand for lettings.