Leading renters’ union says evidence from its membership reveals rising rents to offset the tenancy fees
On September 1 the Welsh Government introduced legislation that banned letting agencies from charging new tenants fees.
Just weeks after this new legislation was put into force, one of the UK’s leading tenants’ organisations has revealed that rents are beginning to rise in Wales.
People who follow the Industry will not be surprised by the organisations’ comments; ARLA Propertymark has consistently warned that the fees ban would sooner or later force up rents in both England and Wales – the pressure has alreade meant that some agents in Wales have already left the market.
Douglas Haig, vice chair of the Residential Landlords Association (RLA) and its chief in Wales, said:
“Fees have definitely gone up for a lot of landlords but this will not cover the loss of the agency fees for agents,” he told Wales Online.
At the moment we are in a quiet period of the letting season.
“The student market picks up around November/December and young professionals starts around April.
The RLA Chief believes we won’t get a full picture of the impact until around 12 months into the ban.