If you read last month’s newsletter you will have seen we covered the tenant fee ban coming into force on the 1st of June where agents and landlords can no longer charge for referencing, admin or check in and check out reports. Deposits will also be capped at 5 weeks with annual rent below £50,000, and 6 weeks rent for tenancies above £50,000. Furthermore, this month we can reveal that agents will only be able to take a maximum of 1 weeks rent upfront from a tenant as a ‘holding deposit’ and if the tenancy agreement is not signed by both parties within 15 days of the deposit being taken, the deposit must be refunded unless the tenant confirms an extension in writing.
We have also understood that no call out fees can be charged. This is in addition to the ban on check-in and check-out fees.
Take a look at our new “Premium Let & Managed” service, this service includes the costs of the check-in and check-out reports and safety certificates. As an extra incentive our new premium service can also be paid monthly out of the rent instead of yearly in advance.