RENTING HOMES (FEES ETC) (WALES) BILL
The Welsh government announced the Renting Homes (Wales) Fees Bill is anticipated to receive Royal Assent in May. This means, that providing the timetable is kept, the ban on fees will commence on 1 September 2019.
The following is copied from a ARLA Circulation:
On Tuesday 12 June 2018 the Welsh Government introduced the Renting Homes (Fees etc) (Wales) Bill to ban fees charged in the private rented sector.
The Bill will ban tenants from being charged for anything other than Rent, Security Deposits, Holding Deposits, Utilities, Communication Services, Council Tax and Default Fees.
AMENDMENTS AT STAGE 3
Amendments that passed at Stage 3 were largely those tabled on behalf of the Welsh Government by the Housing and Local Government Minister, Julie James AM. The Minister also worked with the Welsh Conservatives and Plaid Cymru on some further clarifying amendments to the Bill.
Previously the legislation referred to enforcement activity being instigated by ‘a local housing authority’. This has been amended to ‘enforcement authority’, which allows for both local authorities and the licensing authority (Rent Smart Wales) to enforce the legislation. They will also have the power to bring criminal proceedings under the Bill.
Green Deal charges are included as a permitted payment under ‘Utilities’. Letting agents and landlords will be allowed to charge a contract-holder (or tenant) their agreed portion of Green Deal loan repayments as part of their contract (or tenancy).
Landlords and letting agents will not be allowed to charge exit fees at the end of a contract. Please note, this does not include an early Surrender of Tenancy or where the contract-holder leaves without providing the required notice.
Treatment of Holding Deposit
The legislation now clarifies that any payment of a Holding Deposit that exceeds the equivalent of one week’s rent will be a Prohibited Payment and must be refunded. The person who received the Holding Deposit must also be the person who repays it.
After a Holding Deposit has been paid by a potential contract-holder, the letting agent or landlord must not advertise the property to any other prospective tenants.
Late rent payments
Late rent payments are now specified as a payment in the event of a default. At the moment there are no details on whether this will be capped and we expect the Guidance from the Welsh Government to provide clarity on this once the Bill has passed the Senedd. Further specified Default Fees can be included by secondary legislation.
Notice for Possession
The Renting Homes (Wales) Act 2016 has been amended to disallow letting agents and landlords from issuing a contract-holder with a Notice for Possession where they have been charged a prohibited payment and it has not been fully refunded. This also applies where a Holding Deposit has not been wholly refunded and has not gone towards rent or the Security Deposit. The same applies to the landlord’s break clause.
Stage 4 proceedings (passing of the Bill in Plenary) will take place in the Assembly on 27 March 2019. We will be updating the Fact Sheet and providing other resources in due course.
New Client Money Protection (CMP)
From 1st April 2019 there is a new and improved RICS scheme for the protection of clients' money and as RICS registered firm we already comply.
RICS's Client Money Protection Scheme provides you, as a landlord or tenant, with peace of mind that your money is safe with Tudor Chartered Surveyors.
Parking and CCTV
The parking spaces immediately behind the office is for the use of our clients (when calling into the office).
The area beyond the gate is for permit holders only and these are available by arrangement in our office.
All of the areas behind the office is monitored by CCTV, day and night. This is for security and parking permit compliance purposes.
We accept no liability for loss, damage or injury to your property or person when using our parking area and you use this area entirely at your own risk. Security policies and the use of CCTV apply.
Unauthorised parking will be subject to a penalty charge of £50 for each and every occasion.
Architectural Style Floor Plans For Older Properties
We can now prepare floor plans of older properties showing wall thicknesses - also available for 3d plans. All free when you sell through our agency.
If you require a floor plan for other purposes please contact us for a quotation.
This is also available as a 3D floor Plan!
Congratulations to Steve and Steffi on receiving the keys to their new home.
All the best from the Tudor Sales Team
Tudor move to 'The Property Redress Scheme' PRS
In response to the withdrawal of Ombudsman Services Property (OS: P) from the property market Tudor Estate Agents and Chartered Surveyors have signed up to The Property Redress Scheme (PRS)
The existing ombudsman scheme comes to an end in August 2018 and the Directors considered the two choices for this service; The Property Ombudsman (TPO) and the Property Redress Scheme (PRS) and decided on the PRS.
Land Transaction Tax - Stamp Duty Information - NEWS
Stamp Duty Land Tax (SDLT) is being replaced in Wales by the Land Transaction Tax from 1st April 2018.
After 1st April 2018....
|Price Paid||LLT Rate||LLT 2nd Property|
|up to £180,000||0%||4%|
|£180,000+ to £250,000||0%||3.5% + 4% = 7.5%|
|£250,000+ to £400,000||5%||5% + 4% = 9%|
|£400,000+ to £750,000||7.5%||7.5% + 4% = 11.5%|
|£750,000+ to £1.5M||10%||10% + 4% = 14%|
|Over £1.5M+||12%||12% + 4% = 16%|
If you buy a property for more than £180,000, you pay Land Transaction Tax (LTT). The amount payable depends on the purchase price of the property.
Also from 1st April 2016 there is an additional 3% stamp duty on all buy to let purchases and on the purchase of a second home.
For more information, please refer to Stamp Duty Information