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The Tenant Fee Ban and what this means to Landlords

The Tenant Fee Ban and what this means to Landlords
11th June 2019 nextstepestates

As of the 1st June 2019, agents and landlords are no longer able to charge for various fees in England for all tenancies signed up or after the 1st June 2019. As a result of this many agents around South West London and Surrey are increasing their prices which will ultimately pass on to the landlord. We are happy to report that we will be keeping our fee structure the same and have been taking advantage of technology to streamline our processes in order to provide a better service at the same fee.

To list a few of the fees that have been banned:
Credit Checks
Inventories
Cleaning Services
References
Admin Charges

There are a few permitted fees that can be charged such as holding deposits but they must be treated in a strict manner.

If you’d like to know more about how the current happenings may affect you or your property portfolio, then get in touch, we’ll be happy to help.

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