Cymraeg Tudor Estate Agents is a member of ARLA Propertymark and regulated by The RICS (which includes their Client Money Protection Scheme) and The Property Redress Scheme
The information given below is provided to ensure you are fully informed of any fees and costs involved in renting a property through Tudor Estate Agents.
IF YOU ARE AN EXISTING CONTRACT-HOLDER (TENANT) AND YOUR AGREEMENT WAS SIGNED BEFORE 1st SEPTEMBER 2019 PLEASE REFER TO THESE CHARGES HERE
ALL APPLICANTS FOR TENANCIES ARE ADVISED TO READ AND BE AWARE OF THE CHARGES THAT MAY APPLY BEFORE, DURING AND AT THE END OF THE TENANCY
A list of these charges is available at our office and is included in the application form.
Our charges have been reviewed in accordance with the RENTING HOMES (FEES ETC) (WALES) BILL - see >here
What has changed - see list below with the Legal Position is explained :-
Permitted Fees
The above mentioned Act specifies which fees are legal. Permitted Payments are:
- Rent;
- Security Deposit;
- Capped refundable Holding Deposit;
- Payments in default (these include cost associated with putting right items of damage or anything that the tenant has ;
- payments in respect of Council Tax;
- payments for utilities (electricity, gas or other fuel, water or sewerage – including cesspits / emptying sceptic tanks );
- payments for a television licence; communication services (telephone other than a mobile telephone; the internet; cable television, satellite television); and the Green Deal charge.
If it isn’t in this list, it can’t be charged.
Security Deposits
Legal Position - The Security Deposit is not capped in the legislation. This means a higher amount of deposit can be taken. For example, should a tenant have pets a higher deposit can be taken to cover any potential damage that might be caused. However, there is a provision in the Act to allow Welsh Government to set a limit, if it wishes, in the future.
We usually apply a deposit of 20% more than the monthly rent - so for a property with a monthly rent of £500 the Holding Deposit will be £600. This can vary depending on the property and contents. Please refer to the specific property advert and ask for clarification before committing to a referencing.
Holding Deposits
Legal Position -Welsh Ministers have the power to make regulations which may set out a list of the information that must be provided to tenants before a Holding Deposit can be taken. The Welsh Government has consulted on this issue. However, the information will be subject to additional legislation and the Welsh Government has not yet clarified any further details.
We will be charging a holding deposit of £100 per application at the start of the referencing period.
If the applicant takes the tenancy this will be refunded or used as part of the first months rent. If the applicant chooses not to take the tenancy for any reason the deposit will be retained by Tudor EA. If the applicants fail the referencing they will be entitled to the deposit provided they have provided correct information for the referencing. See below.
What happens to the deposit if you fail the referencing?
Failing referencing isn’t enough to withhold a potential contract-holders (tenant) Holding Deposit
If a prospective contract-holder (tenant) provides completely factually and accurate information but still fails referencing, agents will have to still return the Holding Deposit. To withhold the Holding Deposit for a tenant providing false or misleading information, the agent must be able to prove that the prospective contract-holder (tenant) provided factually inaccurate information rather than the tenant made a mistake. For example, a prospective contract-holder (tenant) stating that their salary was higher than it actually is would be providing false or misleading information.
The Holding Deposit can be retained by the agent if it is found that the prospective contract-holder (tenant) does not comply with the 'Right to Rent' regulations - Immigration Act 2014. Although this does not apply in Wales Tudor Chartered Surveyors policy is to adhere to the Right to Rent Scheme.
Latest Welsh Government RegulationsTHE RENTING HOMES (FEES ETC.) (SPECIFIED INFORMATION) (WALES) REGULATIONS 2019
The Renting Homes (Fees etc.) (Specified Information) (Wales) Regulations 2019 have been laid in the National Assembly for Wales and if not annulled, could come into force on 13th December 2019.
The following information must be provided to a prospective contract-holder (tenant):
- Amount of holding deposit
- Identify the dwelling in respect of which the deposit is paid
- Name, address, telephone number and any email address of the landlord (and if instructed, the letting agent)
- Nature and duration of the contract
- Proposed occupation date
- Amount of rent or other consideration
- Rental period
- Any proposed additional contract terms or proposed modifications or exclusions to fundamental or supplementary terms
- Amount of any security deposit
- Whether a guarantor is required and, if so, any relevant conditions
- Reference checks the landlord (or letting agent) will undertake
- Information the landlord or letting agent requires from the prospective contract-holder. The information must be provided to a prospective contract-holder in writing and may be given in person or sent either by post or provided by electronic means if the prospective contract-holder consents to receiving it electronically
We already provide this information as part of the profoma invoice for the Holding Deposit
Can I pay the rent in advance or the Security Deposit before a tenancy is signed?
Where a prospective contract-holder (tenant) is not physically available to sign an agreement before the term of the tenancy begins, landlords and agents can require rent in advance, or the Security Deposit. This cannot be classed as an excess Holding Deposit providing the tenant is made aware in writing that any such payment was an advance payment of rent or the Security Deposit.
Fees for Changes to Your Tenancy Agreement
Legal Position - The Welsh Government have clarified that should either the landlord or tenant wish to change a tenancy agreement, a fee cannot be charged for the amendment.
We will not charge to amend a tenancy agreement.
Default fees are for breach of contract
Legal Position - The Act states that, a 'payment in default' is a payment required by the landlord or agent arising from a breach of the tenancy agreement by the tenant.
Examples include:
Missed appointments; avoidable or purposeful damage to property; replacement keys; or emergency/out of hours call-out fees.
Contained within the legislation is the power for the Welsh Government to specify further default fees and what amount they are limited to.
Until there is an additional list of default payments and the limits of payments, we will charge the actual costs for doing the work.
Changes to other transparency rules
Legal Position - Under the Renting Homes (Fees etc.) (Wales) Act, agents are still required to display their fees schedule, Client Money Protection and redress scheme membership in their office and on their website. This requirement has been extended to advertisements on online advertisers.
This includes the portals (Rightmove, Zoopla, OnTheMarket) as well as other websites such as local newspaper sites, local property portals and social media (e.g. Facebook, LinkedIn, Twitter).
It may not be possible on a social media website to fully advertise all these details. In this instance, a link may be provided to the agent’s website which provides all the information.
Summary - before, during and at the end of the tenancy
The following is a summary of the possible charges applicable to a new tenancy after 1st September 2019
Before You Move In
Holding Deposit set at £100 (inc VAT) per application (for single or multiple applicants/persons and up to a maximum of one weeks rent)
Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement. No Charge.
Guarantor Reference - no Charge.
Security Deposit - This is usually about one months rent plus 20% (but will be as specified in the property advertisment)
Pet Deposit - Returnable additional Security Deposit of a minimum of £200.00. This is to cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy
During The Tenancy
DURING YOUR TENANCY:
Amendment Fee - Nil
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy
Renewal Fee (tenant’s share) - Nil
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement
Also refer to the last section below for charges that will be made when the rent is late or not paid
If you have any questions about our charges please ask a member of staff
