Set Regulated Fees - For all Landlords, Agencies and Tenents across Wales

The main issue I feel with Fees within Private Rental Sector, is the large difference in the amounts being charged

Set Regulated Fees

Firstly there should be no duplication of fees. If the Agency is charging the Tenant the credit check and reference fee, then this shouldn’t be charged to the Landlord as well.... or vice versa

- Reference Check - How much does it cost on average for someone to check references? 1 Hour's Labour plus a small profit - £15? 

- Credit Check - Credit Checks for Agencies can be done from as little as £1.95 for the Letting Agency, plus then say again 1 hour's labour and small profit (£15) so maybe set a Max Fee of £20. Currently there are Agencies out there charging over £100 for a Credit check fee.

Application Fee - How long on average does it take for a Person to complete just the application form? With online forms, this time must be quite minimal now. Max fee should be set at £50 in total and that should include the itinerary. This fee could be split between the Landlord and Tenant (£25 each) to ensure it's fair, but the total charged should not exceed £50

 

Why the contribution is important

As much as it would be fab to say NO FEES, they do however play a vital role and I believe if controlled and Part of a Legislated Standard set across Wales, this will allow Fees to play a key part in controlling the Market, ensuring High Standards are kept and that competition within the industry is kept healthy and Fair.

 

Fee's should not be scrapped, but controlled. Flexibility can be given to Landlords / Agencies in splitting the Fee's per application, however should not exceed the agreed amount, as in my examples 

by richiebcymru on September 06, 2018 at 10:53AM

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