- Tenants Fee Act 2019
Tenants Fee Act 2019
As of 1 June 2019, it has become government legislation to abolish certain fees and cap the amount of deposit allowed to be taken that tenants would previously have been asked to pay to landlords and/or agents. Any tenancy agreement made on or after 1 June 2019 in England must comply with these new regulations.
Landlords/ Agents should only ask a tenant to pay the following in accordance with the Tenants Fee Act 2019:
- 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
For further information on this please contact us with any queries you may have.