What Tenant Fees will be Banned?

Posted on 8 January 2020

What Tenant Fees will be Banned? This is the question on a lot of peoples lips right now. Since the government decided to BAN Tenant Fees, a lot of people have been very confused on what they can and can’t do.

This is a list of the new regulations that the government has out in place on the 1st June 2019.

  • Tenancy Deposits must not exceed the equivalent of five weeks’ rent (unless the annual rent exceeds £50,000 in which case deposits are capped at six weeks’ rent).
  • Holding Deposits will be capped at no more than one week’s rent.
  • The amount that can be charged for a change to a tenancy will be capped at £50 unless the landlord demonstrates that greater costs were incurred.
  • The Consumer Rights Act 2015 is amended to specify that the letting agent transparency requirements should apply to third-party websites.

These are the new policies on tenants, and the old policies have all been scrapped. This makes it even more costly for landlords, due to the fact these charges are now off-set to the landlord.

Landlords, if you are looking to add value to your property and/or receive maximum rental, please do not hesitate to call us (01293 278312) as we have beneficial products and services that we can cater for you.

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