Letting information

• Tenant Fees: Permitted payments and tenant protection information As well as paying the rent, you may also be required to make the following permitted payments.Permitted payment For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments: Holding deposits (a maximum of 1 week's rent); Deposits (a maximum deposit of 5 weeks' rent for annual rent below £50,000, or 6 weeks' rent for annual rental of £50,000 and above); Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if higher, any reasonable costs); Payments associated with early termination of a tenancy (capped at the landlord's loss or the agent's reasonably incurred costs); Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services "telephone, internet, cable/satellite television), TV licence; Council tax (payable to the billing authority); Interest payments for the late payment of rent (up to 3% above Bank of England's annual percentage rate); Reasonable costs for replacement of lost keys or other security devices; Contractual damages in the event of the tenant's default of a tenancy agreement; and Any other permitted payments under the Tenant Fees Act 2019 and regulations applicable at the relevant time. For properties in Wales, the Renting Homes (Fees etc.) (Wales) Act 2019 means that in addition to rent, lettings agents can only charge tenants the following permitted payments Holding deposits (a maximum of 1 week's rent); Security deposits; Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services "telephone, internet, cable/satellite television), TV licence; Council tax (payable to the billing authority); Payments for the late payment of rent (where required under the tenancy agreement); A breach of a term of the contract (where required under the tenancy agreement); and Any other permitted payments under the Renting Homes (Fees etc.) (Wales) Act and regulations applicable at the relevant time. Tenant protection In addition to publishing relevant fees, lettings agents are also required to publish details of: the redress scheme they are a member of; and the name of the approved or designated Client Money Protection scheme they are a member of (if any).
• Date Available: 19/11/2024