Limits on Fees Charged to Tenants
The Tenants Fees Act 2019 means that from 1 June 2019 for all new tenancies and from 1 June 2020 for all existing tenancies, Landlords and agents will not be able to charge residential tenants for anything except:
- tenancy deposits
- holding deposits
and cannot charge the cost of:
- an inventory
- carrying out credit
- reference checks.
They can charge default fees, eg for late rent but this must be included in the tenancy agreement.
The maximum amount of the tenancy deposit will be capped at 5 weeks rent and for a holding deposit at 1 weeks rent.
Landlords face large fines and potentially a criminal offence if they breach these rules.Conveyancing
How Kerseys Can Help
If you require advice about buying or selling a property or conveyancing please call Jane Riley, Head of our Residential Conveyancing Team.