Under New Legislation of The Tenant Fee Act any Assured Tenancy Agreements (AST) signed on or after 1st June 2019, the only payments that will apply are the following Permitted Payments:
First month’s rent is payable in advance
Refundable security Deposit will be 5 or 6 weeks depending on rental amount (which is registered and held in the Deposit Protection Scheme).
Refundable Holding deposit (subject to terms) – capped a at maximum 1 week’s rent
Utilities, communication services, TV Licence and Council Tax
Late payment of rent – this is limited to interest charged at 3% above the Bank of England base rate, when the rent arrears is more than 14 days late.
Replacement of loss of keys or security device – equivalent to cost incurred
Change to Tenancy Agreement after signed agreement by the Tenant’s request – limited up to £50 inc. vat.
Early termination of Tenancy as requested by the Tenant.
Terms and Conditions of Holding Deposits are available through branch.