There’s some huge news for renters in today’s Autumn Statement. The government has announced plans to scrap all letting fees charged to tenants ‘as soon as possible.’
That means when you move, all you can be asked to pay is your first month’s rent and a deposit. No more charges for credit checks, inventories or admin fees. Those will now have to be paid by the landlord.
Unsurprisingly, when we asked SpareRoom users earlier this year whether you were in favour of this change, 92% of you said yes. Surprisingly, 75% of landlords also agreed.
Scotland already scrapped letting fees charged to tenants in 2012 – now England and Wales will follow suit, after the chancellor’s surprise announcement today.
We’ll update you when we know more about when these will come into effect. In the meantime, tell us your experiences of letting fees in the comments below.
Landlords in Wales now need to become registered, according to a ruling that came into effect on November 23rd 2015 and gave people a year to register.
That means the deadline is in less than a week.
If you haven’t registered yet here’s a quick guide to the new system and what you need to do.
Who needs to register?
If you own a property in Wales that you don’t live in and rent it out on an assured, assured shorthold (AST) or regulated tenancy you need to register.
Who else does it affect?
If you act as the agent for a property you don’t own then you won’t need to register but may need to apply for a license. Click here for more info on licensing.
What about holiday lets?
If the property you rent out is a holiday let you’re not a landlord under the Housing (Wales) Act 2014 so don’t need to register.
That also applies if you let someone (e.g. a relative) live in your property rent free.
How do I register?
You can register at rentsmart.gov.wales
All you need to do is create an account and follow the steps online.
You need to complete the registration yourself – you can’t get an agent to do it for you.
What does it cost?
Registration costs £33.50 if you do it online – the fee covers you as a landlord and doesn’t increase if you own multiple properties.
Applying via a paper application instead of online costs £80.50.
What happens next?
Your registration lasts 5 years – after that you need to register again. By law you’ll need to keep your information up to date in the meantime.
That includes things like changes in name, address or contact details and adding more properties to your registration.
For full details and to register online visit rentsmart.gov.wales