Renters in Swansea and Llanelli could soon find it easier and cheaper to take on a property tenancy thanks to a new partnership between a local estate agent and a payment technology firm. Dawsons, the largest independent estate agency in Swansea, has joined forces with Flatfair in a new scheme to bring 'deposit-free' renting to the area.
Instead of paying a typical deposit, which is often more than one month's rent, and can be tough for many people to find, renters on the scheme can instead pay a small one-off fee, equivalent to one-week's rent plus VAT, to guarantee their home. At the end of their tenancy, any payment for damages is mutually agreed and arranged by a third party, if necessary.
The scheme comes ahead of the Renting Homes (Wales) Act 2016 which will come into effect later this year and aims to simplify tenancy contracts. The new act will introduce new laws around notice periods for rented accommodation in Wales.
