TENANTS FEES & CHARGES
TENANTS FEES & CHARGES
Here’s an overview of the changes made by the legislation:
- Holding deposits are capped at one week’s rent;
- Security deposits will be capped at five weeks’ rent where the annual rent is less than £50,000 and six weeks’ rent where the annual rent is £50,000 or more;
- Default fees (fees which can be charged during the tenancy) are limited to the reasonable costs incurred in replacing a key or lost security device or interest on rent overdue by 14 days or more, capped at 3% above the Bank of England base rate
Residential Agreement AST:
Short Term Let Agreement: