New Welsh holding deposit requirements 13th December

As of December 13th 2019 under The Renting Homes (Fees etc.) (Specified Information) (Wales) Regulations 2019 before a holding deposit is paid to a landlord or letting agent the following information must be provided to a prospective tenant:

– The amount of holding deposit

– Identify the dwelling in respect of which the deposit is paid

– Name, address, telephone number and any e-mail 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 above 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.

David Cox, Chief Executive, ARLA Propertymark said: “Once again, the Welsh Government is changing the law with little notice. Agents only have 19 days to put this into practice. We will be preparing a short factsheet and template for members to use in the coming days and we will publish this as soon as possible.”