The ban on tenant fees applies to new or renewed tenancy agreements signed on or after 1 June 2019. The government guidance on the Act for tenants, landlords and letting agents helps explain how this legislation affects them.
Permitted payments.
Holding Deposit: One week’s rent. (This is to reserve a property. Please note: This will be withheld if any relevant person (including any guarantor(s) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement and/or Deed of Guarantee within 15 calendar days.
Security Deposit (per tenancy. Rent under £50,000 per year): if required up to five weeks rent.
(as security for the performance of any obligations, or the discharge of any liability arising under or in connection with the tenancy for example damages)
Default Fees
Lost Key(s) or other Security Device(s): Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). This is a minimum charge of £25 per key, if a whole lock change is required the maximum charge will be £85. If the main house door needs to be replaced the charge is £85 and failure to return your keys at the end of your tenancy is also £85. Out of hours tenants needs to call a lock smith, our office is open Monday – Friday 9:00am – 5:00pm.
Change of Tenancy £250 (inc. VAT) per replacement tenant. To cover the costs associated with new tenant referencing, Right-to-Rent checks, deposit registration as well as the preparation of new legal documents.
Early Termination/ Surrender of Tenancy: Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Deposit Protection Scheme (DPS): Deposit Protection
Client Money Protection: Money Shield
Redress scheme: The Property Ombudsman