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Important changes for rental sector

 
Created on 09/09/2019 @ 19:55
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Important changes have come into place for both landlords and tenants and local property expert Tom Carter of McCartneys has advice to offer

On September 1st the tenant fee ban came into play in Wales following follows the implementation of the ban in England in June of this year.

This means that from this date agents and landlords can only charge tenants “permitted payments” which are, payment for rent, security deposits, holding deposits, a payment in default (when a tenant breaches a contract), and payments in respect of council tax, utilities, a television licence, or communication services.

Of course, on the face of it, this appears to be great news for tenants as they can not be charged for the likes of credit checks, preparation of inventories, schedules of condition or tenancy agreements.

These processes do however form a vital part of preparing any tenancy and are designed to protect both Landlord and Tenant.

The old adage that “you get what you pay for” springs to mind. Will this result in corners being cut, processes not being carried out correctly and therefore increased risk with tenancies? Not by McCartneys I can assure you but across the industry it does beg the question.

Last year saw the introduction of minimum energy efficiency standards for rented property which in some cases has meant that landlords have had to spend considerable money on improving their properties. Quite rightly so I hear you cry! Why should tenants have to suffer the effects of under insulated, under efficient homes? 

Rent smart wales came into play in 2015 where Landlords had to register as such and pass an exam to confirm that they were suitable to be a Landlord! Good, upstanding Landlords of course embraced this and did things by the book. Can the same be said for those who perhaps the legislation was designed to pull in line?

There is also a move afoot to alter the ability for Landlords to serve notice on Tenants, potentially extending the timescales involved in them leaving properties. This is currently in a government consultation phase with the outcome expected later this year, watch this space!

As you can see, there has been and continues to be huge change over the last few years. It is unquestionably a positive thing that there is some further regulation within the private rental sector in England and Wales but of course, there is always the danger of over regulation. This could have a very detrimental effect on the sector as a whole with an impact on both Landlords and Tenants.

We are of course trying to take the positive out of all of these changes and to continue to give our clients the very best, up to date, professional advice and service that we can. Whether you are a Landlord or a tenant, should you have any queries relating to lettings, please do get in touch with your local McCartneys office.

Tom Carter,

Property Chairman

McCartneys

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