For properties in Wales, The Renting Homes (Fees etc.) (Wales) Act 2019 means that in addition to rent, lettings agents can only charge tenants the following permitted payments
- Holding deposits: Equivalent to 1 weeks rent, to reserve the property during the reference process. This deposit can be retained if the tenant provides false or misleading information to the letting agent/landlord, fails a Right to Rent Check or if the tenant decides to withdraw before the Deadline for Agreement. However, once a successful reference has been obtained, the holding deposit will be put towards the first month’s rent.
- Security deposits: A Security deposit is equivalent to 5 weeks rent. An additional £100 may be required if a pet is permitted.
Charges during Tenancy:
- Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services (telephone, internet, cable/satellite television), TV licence, Council tax (payable to the billing authority)
- Release fee for ending your tenancy early (if agreed): £192.00 for managed tenancies and £540 including VAT or 1/2 a month’s rent (whichever is the greatest) for let only tenancies (rent is required until the new tenancy starts).
- Late/Unpaid Rent - Payments for the late payment of rent; Rental payments overdue by more than 7 days will be subject to interest at the rate of 3% over the Bank of England Base Rate calculated from the date the payment was due up until the date payment is received
- Loss of keys/security devices - Tenants are liable for the cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour for the time taken replacing lost key(s) or other security device(s).
- Wasted Prearranged contractor/staff visits - £30.00