TENANTS FEES ACT 2019 AS OF 1ST JUNE 2019

All prior tenancy charges remain as said until the 31st May 2020.

NEW LETS
Agents are permitted to charge tenants under the new Tenant Ban Fee Act 1st June 2019 the following:

A “holding deposit” capped at one week's rent.

A holding deposit can be kept by the Agent if the following circumstances occurs:

The holding deposit can be used as part of the first month’s rent if you agree in writing otherwise it will be returned to you within 7 days except if there is any proof that you have delayed the process.

PERMITTED PAYMENTS
Rent

Utility bills, communication, TV, Council Tax

A security deposit of 5 weeks rent if the annual rent is under £50,000 and 6 weeks if the annual rent is over £50,000

Rent arrears (after 14 days interest on late payment)

The cost of replacing a lost key or other security devices

Variation to the contract capped at £50 including VAT

Early Surrender Fee (the landlord can continue to charge the tenant for loss of rent until a new suitable tenant is found)

A green deal payment or other energy efficiency charges

Fees apply to Non Housing Act Tenancies

General administration & tenancy agreement

£350 incl. VAT

Reference fees (including credit checks, bank, guarantor, previous landlord etc)

£100 incl. VAT

Application fees

£50 incl. VAT

Inventory fees, including check-in and check-out fees based on one bedroom minimum of £120 incl. VAT

Guarantor arrangement/application fees

£50 incl. VAT

Additional occupant fees

£100 incl. VAT

Pets disclaimer fees/additional pet deposit

£100 incl. VAT

Please download our comprehensive overview of any tenant-related charges.

UKALA Membership
Compass Residential are members of the UK Association of Letting Agents (UKALA) - click here to see certify this. As part of this membership, we're enrolled in the Client Money Protection (CMP) Scheme - click here to see the certificate.