We have written on this matter in recent times but with the ban having started on the 1st June 2019 I felt it was worth reconfirming the new rules.

In simple terms tenants are no longer to be charged for referencing, applications and many other fees that agents have previously charged. We have always charged very low tenant fees and for many services – such as tenancy renewals – we have never charged.  The ban to us is therefore less of an issue than it is to other lettings agents that have to a significantly built their business model on such fees. We certainly don’t welcome the changes but they are not that significant for us.

Tenants can still be charged for a very limited number of matters to include; early termination of the tenancy if requested by tenant, defaults such as lost keys and the variation of a tenancy following a request by the tenant.

The amount a landlord can take for a security deposit is also now limited to five weeks rent. Previously we have always taken 1.5 months’ worth of rent as a security deposit so this presents a fairly minor change.

For further information please contact Richard Banks on 01299 891 905 or via email at rb@gherbertbanks.co.uk