Letting fees to be banned from June - MSE News

rachd

I have a friend who is going to take over my tenancy. The letting agency is in England and the property is in Wales? Is this ban based on where the letting agency is or where the property is?

Crashy_Time

rachd wrote: »

I have a friend who is going to take over my tenancy. The letting agency is in England and the property is in Wales? Is this ban based on where the letting agency is or where the property is?

The ban covers England AND Wales?

need_an_answer

Crashy_Time wrote: »

The ban covers England AND Wales?

Crashy...the ban on fees in wales does not come into force until 1st Sept 2019

System

Crashy_Time wrote: »

The ban covers England AND Wales?

No it doesn't, the proposal is for the ban to start 1st September in Wales

LorrieJ

I’m moving are with my job so looking to rent a short term let I noticed on one of the Agents T&C the following.
‘A holding deposit equivalent to one weeks rent will be required to hold the property whilst references are being carried out. If the applicant provides false or misleading information, withdraws from the property, fails Right to Rent checks or fails to sign their tenancy agreement within 15 calendar days (or other deadline date mutually agreed in writing) the holding deposit can be retained’
Could this be classed as a fee - which were banned this month ? Thanks LJ

need_an_answer

LorrieJ wrote: »

I’m moving are with my job so looking to rent a short term let I noticed on one of the Agents T&C the following.
‘A holding deposit equivalent to one weeks rent will be required to hold the property whilst references are being carried out. If the applicant provides false or misleading information, withdraws from the property, fails Right to Rent checks or fails to sign their tenancy agreement within 15 calendar days (or other deadline date mutually agreed in writing) the holding deposit can be retained’
Could this be classed as a fee - which were banned this month ? Thanks LJ

No its not a fee as it will be deducted from your first rental payment when everything goes through and you move into the property....your first months rent will be for the months rent less the figure paid as a holding deposit.

Its actually the new way of registering an interest in a property that was agreed as part of the new legislation following the ban on tenant fees.


You now supply the holding deposit as a "commitment" to show your intention to wanting to rent the property.

As a tenant you forfeit it if you fail to honour your side of the deal and it will be returned to you if for any reason the LL is unable to fulfil their pledge to you to rent.

The LL now covers all fees for referencing and other checks that were previously paid as administration fees/agency fees to an agent by the tenant

westernpromise

Presumably the way round this is for letting agents not to let to anyone who fails to produce a reference from their previous letting agent or landlord. For the reference there will, of course, be a fee. This isn't a letting fee because it's charged by the previous agent, not the one letting the new property.

Is there any reason this couldn't work?