With effect from Monday 23 November letting agents in Wales will be obliged to display their fees, or risk receiving a fine of up to £5,000.
As stated in the Consumer Rights Act 2015, agents must display their fees:
- at each of the agent’s premises at which the agent deals face-to-face with persons using or proposing to use services to which the fees relate, and
- at a place in each of those premises at which the list is likely to be seen by such persons.
Put simply, this means that any letting agent with premises in Wales must display a list of their fees in a place that their customers can easily see them. The new rules also stipulate that agents must also publish a list of their fees on their website (if they have one).
Any breach of this new obligation could result in a financial penalty of up to £5,000 being imposed, so it’s important that you act quickly to be ready for the 23 November deadline.
Full details of the new regulations can be found here.