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 (inc. Client Money Protection)
Compass Residential are members of the UK Association of Letting Agents (UKALA) and as part of this membership we are enrolled in the Client Money Protection (CMP) Scheme - click here to see the certificate.
We're also, accredited members of The Property Redress Scheme (PRS). Click here to see our certificate.