Whitman and Co Letting Fees:
Due to legislation changes on 1st June 2019, we no longer charge in-going tenants any referencing or tenancy set up fees. A week's holding deposit will be required to secure a property whilst references are checked and the contract prepared.Permitted payments under the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:
- Holding deposits (a maximum of 1 week's rent);
- Deposits (a maximum deposit of 5 weeks' rent for annual rent below £50,000, or 6 weeks' rent for annual rental of £50,000 and above);
- Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if lower, any reasonable costs);
- Payments associated with early termination of a tenancy (capped at the landlord's loss or the agent's reasonably incurred costs);
- Utilities, communication services (eg. telephone, broadband), TV licence and council tax;
- Interest payments for the late payment of rent (up to 3% above Bank of England's annual percentage rate);
- Reasonable costs for replacement of lost keys or other security devices;
- Contractual damages in the event of the tenant's default of a tenancy agreement; and
- Any other permitted payments under the Tenant Fees Act 2019.
We will require cleared funds of the deposit and first month's rent prior to any tenancy commencing. Depending on individual circumstances, we may require 3-6 months rent up front.
If you would like to discuss how the new legislation changes may effect you, please do not hesitate to contact us on 0208 747 8800 or email email@example.com