A company let is where the tenant is a limited company rather than an individual. The company takes the property and provides it to an employee or director as accommodation. Company let agreements are commercial contracts not governed by residential tenancy legislation (including the Renting Homes (Wales) Act 2016), so terms including notice periods and break clauses can be freely negotiated. They are not covered by the Tenant Fees Act 2019.

The most common corporate lettings in Wales are for senior executives and professional employees relocating to Cardiff or Swansea, project teams working on major infrastructure projects (particularly in South Wales), NHS consultants and clinical staff at major Welsh hospitals, and visiting academics at Welsh universities. Cardiff and Newport have the strongest corporate demand linked to major employers.

Corporate lets typically achieve market rent or slightly above for well-specified furnished properties. The premium comes from the reliability and convenience of corporate occupiers rather than a significant rent premium. The main financial benefits are reduced void risk, reliable rent payment (by the company), lower wear and tear and potentially lower management intensity.

No. The Tenant Fees Act 2019 applies only to assured shorthold tenancies and licences under the Renting Homes (Wales) Act 2016. Company let agreements are commercial contracts and are not subject to the prohibited fees provisions — fees and charges can be negotiated freely between the parties.

Corporate occupiers typically expect a high standard of furnishing — good quality furniture, a fully equipped kitchen, fast broadband, adequate storage and a professional finish throughout. Properties should be presented to a standard suitable for someone who travels professionally. We can advise on and coordinate the furnishing and specification of properties targeting the corporate market.

Corporate occupiers often require accommodation at short notice. We maintain a database of available properties and can coordinate rapid moves for corporate clients — from matching a property to requirements through to move-in coordination, including utilities setup and inventory sign-off, typically within 5-7 working days.