It has been confirmed, letting agents in Cardiff and up and down Wales will no longer be able to charge tenants fees!
After a consultation of 700 respondents the Labour-led administration’s housing minister – Rebecca Evans said:
“The analysis shows that the majority of respondents, including a significant number of landlords, support a ban on fees being charged to tenants. Today, therefore, I am re-affirming the Welsh Government’s commitment to take action to ban fees being charged to tenants in the private rented sector … Officials will also begin a programme of engagement with stakeholders to share information and help us shape detailed plans about how future legislation would work in practice.”
More details are to be released on the implementation early in 2018.
As a landlord and Cardiff Letting Agents we understand this fee ban will have a huge impact on the traditional letting agent’s business model who will ultimately look to pass on additional costs to landlords.
However, at High Yield Property Management Limited we are appreciate that landlords are already being attacked financially on several fronts including increased taxation, increased legislation and increased finance costs, that’s why we offer a low cost fixed price property management solution.
For just £50.00 per month we will manage you Cardiff investment property and find your next tenant for just £150.00.
If you would like to increase your rental income and receive a professional property management service from experienced landlords based in Cardiff do not hesitate to contact us via telephone 0845 496 0000 or complete the contact form below to receive a call from one of the team.