New Law could Save Tenants £240 million a Year

New legislation under the Tenant Fees Act 2019 is now in force, seeking to protect tenants from unfair letting fees and unreasonable costs that can make property hard to afford.

Deposits used to secure a rental property have been capped at five weeks, and renters will no longer have to pay lettings fees. This prevents landlords and agents from charging additional fees at the start or end of tenancies, such as for referencing checks or professional cleaning costs.

The Act also ensures that tenants who have been charged unfair fees can make a claim to get their money back. Landlords and agents can be required to pay back any prohibited payment or any unlawfully retained deposits being held within 7 to 14 days.

It has been estimates that these changes will save renters in the UK around £240 million a year.

If you have any queries regarding your tenancy agreement or any associated fees, then contact us at Audley Chaucer.

Written by Syeda Anjum

Related News