If you’re currently renting, it’s time to familiarise yourself with the Tenant Fees Act, which has been extended to cover all tenants as of 1st June 2020.
Before this, it only covered new and renewed contracts signed since 1st June 2019.
Under the Act, landlords and estate agents will only be able to charge:
- a refundable deposit – capped at 5 weeks’ rent where rent is less than £50,000pa, or 6 weeks where it’s more than £50,000pa
- a refundable holding deposit (to reserve a property) – capped at 1 week’s rent
- fees for early termination of the tenancy, when requested by the tenant
- up to £50 (or reasonably incurred costs, if higher) to change or transfer a tenancy
- payment for utilities, landline and internet, TV licence and Council Tax
- fee for late payment of rent and replacement of a lost key where required under a tenancy agreement
If you’re charged anything else, such as reference checks or insurance policies, you can complain to your local council, who has the power to fine the landlord or estate agent.