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Expert Letting Agents & Property Managers
Oct 9, 2018
Tenant Fee Ban
The tenant fee ban is coming and we all need to be aware of it's implications
Posted by: Andystrev
The latest we have is that the Tenant Fee Ban is going to be implemented in the Spring of 2019. After this date it will become illegal for agents OR landlords to charge prospective tenants a fee to apply for a property to let however it will most likely be acceptable to charge a 'Holding Deposit or Fee'from which charges may be legally deducted if an application fails due to false or misleading information provided by the applicant.It is also likely that deposits will be capped at a maximum of 5 weeks' rent but again we await further clarification. Once the new regulations have been passed into law we will, of course, fully comply and will ensure that our process are clear and explanatory. In the meantime if you have any questions you can contact us for advice.
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