What permitted payments can I expect to pay if I rent a property with Reeds Rains?
When you have decided to apply for a property to rent, Reeds Rains will provide you with a Tenancy Fee Declaration form. This form helps explain the next stages of your application and the fees due before you sign your Tenancy Agreement. The Renting Homes (Fees etc) (Wales) Act 2019 came into force on 1 September 2019 which makes it illegal for Landlords or letting agents to charge fees to tenants apart from a small number of exemptions that are referred to as Permitted Payments.
Permitted payments are:
Rent, security deposit, holding deposit capped at one weeks rent, default fees, utilities (gas, electric or other fuel, water, sewerage and Green Deal), council tax, TV Licence and communication services.
Holding deposit (per tenancy). One week’s rent.
This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, provide materially significant false or misleading information or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Rent Arrears / Returned Payments.
A £15 (including VAT) charge per letter, telephone call or email is permitted requesting payment plus interest at 3% above the Bank of England Base Rate from the Due Date until paid on any outstanding sums in order to cover the agent’s costs associated with chasing unpaid rent.
Where the actions of the tenant results in a missed appointment, the tenant is liable for the agent’s time in remedying the situation which is charged £15 including VAT per hour plus any actual costs incurred (such as contractor charges).
Avoidable or purposeful damage to the property
Tenants are liable to the actual cost of remedying any damage incurred (as detailed in a contractor’s invoice) plus the agent’s costs in obtaining any necessary permissions, sourcing providers and travel costs which will be charged at £15 including VAT per hour.
Lost Key(s) or other Security Device(s).
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s) plus the agent’s costs in obtaining any necessary permission, sourcing providers and travel costs which will be £15 including VAT per hour.
If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant.
Emergency/out of hours call-out fees.
Where the actions of the tenant results in the agent (or their nominated contractor) attending the property outside of normal office hours, the agent’s time to remedy the situation is charged £15 including VAT per hour plus any actual costs incurred (such as contractor invoices).
If you have any questions on our fees, please ask your local branch.
Client Money Protection is provided by Propertymark. Redress through The Property Ombudsman Scheme.