rom June 1, 2019, the Tenant Fees Act comes into force, in England. For landlords who use agents, it is important to understand the implications, as one possible outcome is that agents could increase fees elsewhere.
Andrew Turner, chief executive at Commercial Trust Limited, looks at the issues that landlords may face as a result of the new legislation.
What is changing?
Under the new Act, the number of chargeable items for which letting agents can charge a fee to tenants, is significantly restricted.
From June 1, 2019, agents may only charge tenants for the following, in connection with a tenancy:
b) a refundable tenancy deposit, capped at no more than five weeks’ rent, if the…