If you’re an existing landlord of ours and your tenant’s renewal date is after 1st June, here’s what has changed for your tenant.
If the annual rent is £50,000 or less, the deposit held cannot not exceed more than 5 weeks’ rent. Should the deposit scheme be holding in excess of the 5 weeks’ rent, the additional deposit monies will be returned to your tenant. We’ll be in touch to advise on tenancy renewal should this apply. This only applies to fixed term tenancies, not rolling contracts.
Your tenant cannot be charged a fee to renew their tenancy.
Please note, if your tenants has outstanding fees on an existing tenancy or accumulates any prior to 1st June 2019, our current fees will still apply and they will still be responsible for paying those.
If we’re starting a tenancy for you after 1st June, aside from rent, here’s what we’re allowed to charge your tenants.
It’s now capped at one week’s rent.
If the annual rent is £50,000 or less, the deposit cannot exceed more than 5 weeks’ rent.
Tenancy agreement changes.
Changes to the tenancy agreements DURING a tenancy can be charged. Any changes to the tenancy agreement would be subject to your approval.
Lost keys/security fobs.
Reasonable charges for replacing them.
Breach of contract.
Reasonable charges for breach of contract, including late payment of rent after 14 days
Ending a tenancy early.
Deed of Surrender charges will still apply if they request to end a fixed tenancy early.
Our fees for landlords and tenants are shown in full on our website and will be updated nearer the tenant fee ban on 1st June 2019.
If you have a specific query on an existing tenancy or a new one, please talk to us by calling 01923 630844.