Housing is one of the matters devolved to the individual governments of the UK, so Wales have different rules governing landlords and rental properties.
More rights for tenants being discussed
Although this is currently only a recommendation from the Housing & Local Government Select Committee, it’s worth being aware that the Welsh Government has agreed to look at the possibility of tenants being compensated by their landlord if they are evicted through no fault of their own.
The Committee has suggested that if a landlord wants to sell or move back into their property, tenants should be offered their last two months’ rent.
Given that landlords in Wales currently have to give tenants six months’ notice if the rental contract has not been breached, and already face rising costs, this kind of financial penalty risks driving up rents and disincentivising landlords to continue letting property, and we strongly believe it would be an unwise move.
Higher-rate LTT increased
Following England’s lead in raising the additional rate of stamp duty by 2% in October, Wales put their own higher rate of Land Transaction Tax for additional properties up by 1% from 11th December. The new rates are:
As always, our local experts are here to discuss your questions and queries. Please find your local branch contact details and get in touch to discuss further, or book a lettings consultation.
