Tenant Fee Ban Due 1st June 2019
Posted on May 26, 2019 at 9:22 AM
After nearly four years of debate, the ban on Agents charging fees to Tenants is about to become law on the 1st June 2019. Only very limited permitted charges are allowable such as charging for lost keys or any matter that affects the security of the property. Certainly items such as Tenancy Renewals will not be allowed, fees for Referencing will not be allowed. Deposits are capped at 5 weeks rental.
For most Agents, this will have a serious financial consequence for the continuance of thier business. However Kingswood Accommodation are financially sound and are infact emmbraking on an expansion plan to open more branches across Somerset, Devon & Dorset. We will keep you posted.
For all Landlords with the extra compliance that has been placed upon Agents and the removal of Tenants fees, without doubt Landlords will have to face extra charges when letting thier properties. We will keep these increases to a minimum.
