The Tenant Fees Act bans most letting fees and caps tenancy deposits paid by tenants in the private rented sector in England for new or renewed tenancy agreements signed on or after 1 June 2019. There is more information on the Governments Website, but 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 transfer 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.
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