Security Deposits

Tenant Fee Ban

Explaining The Tenant Fee Ban

With the fee ban set to come in on the 1st June 2019, everything from the fees you charge to deposits is set to change. Below we’ve outlined some key things you need to know. Security Deposits These must be capped at 5 weeks rent where annual rent is below £50,000. Pet deposits are banned but increased rent can be charged provided this is advertised in the property advert that an increase in rent will apply should the tenant have pets. Pest control can come out of the security deposit but cannot be charged as an admin fee to tenants during the tenancy. Holding Deposits A deposit can only be withheld should the: Tenant pull out Fails Right To Rent Provides false or misleading statements (If the tenant actively lies about earnings or CCJs, this lie must be able to be proved via a tenant application with declaration.) The agreement …

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