Buy-to-let landlords and letting agents in Wales will have to start supplying a list of information to tenants before taking a holding deposit from next month.
The Renting Homes (Fees etc.) (Specified Information) (Wales) Regulations 2019 have been laid in the National Assembly for Wales and if not annulled will come into force on 13 December.
The regulations will mean landlords and agents in Wales have to supply tenants with the following information to tenants before a holding deposit is paid:
Amount of holding deposit
Identify the dwelling in respect of which the deposit is paid
Name, address, telephone number and any email 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
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 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.
Unless the regulations are annulled by the Assembly, they will come into force on 13 December 2019.
David Cox, chief executive, ARLA Propertymark, commented: “Once again, the Welsh government is changing the law with little notice.
“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.”