Tenant Fee Ban
From 1 June 2019, the only payments that landlords or letting agents can charge to tenants in relation to new contracts are:
- a refundable tenancy deposit capped at no more than 5 weeks’ rent where the total annual rent is less than £50,000, or 6 weeks’ rent where the total annual rent is £50,000 or above
- a refundable holding deposit (to reserve a property) capped at no more than 1 week’s rent
- payments associated with early termination of the tenancy, when requested by the tenant
- payments capped at £50 (or reasonably incurred costs, if higher) for the variation, assignment or novation of a tenancy
- payments in respect of utilities, communication services, TV licence and Council Tax
- a default fee for late payment of rent and replacement of a lost key/security device giving access to the housing, where required under a tenancy agreement
With the new Tenant Fee Ban now in place our Levels of Services and Landlord Fees are currently being re drafted and will be updated here very shortly.
Until then our Rent Collection service will remain at 12.5% (15% inc. VAT) and Property Management will remain at 15% (18% inc. VAT) deducted on a monthly basis.
Further ancillary fees such as Deposit Registration and EPC’s etc may apply.
Our fee to sell your most prized and valuable asset will depend on the type of property, its condition and market circumstances.
After an informal, confidential valuation in person, we will tailor a fee that will work for both us and you.