Tenant Fees

Tenant Fees and Permitted Payments

The Tenant Fees Act 2019 applies to new or renewed tenancy signed on or after June 2019. This act applies to assured shorthold tenancies, student lets and licences such as lodger lettings.

In accordance with the Act we are permitted to take the following payments:

• Holding deposit to reserve a property.
  This is no more than one week rent.
• Deposits.
  This can be up to 5 weeks rent where the annual rent is less than £50,000
  or up to 6 weeks rent where the annual rent is above £50,000
• Rent
  The advanced rent for the first period cannot be greater than the remaining periods of the tenancy.
• Payment in the event of a default or late payment.
  This can be up to 3% above the Bank of England base rate
• Early termination of a tenancy
  This is capped and can only cover any losses incurred by the landlord or agent.
• Change or Transfer of a Tenancy
  Tenant can be charged up to £50, inclusive of VAT, to change a term in the tenancy agreement or transfer to someone else
• Lost Keys or Fobs or other security devices
• Payment in respect of council tax
• Payment in respect if utilities
• Payment in respect of television licence
• Payment in respect of communication services (telephone, broadband)