Call us on 02476 510094  |  [email protected]

| Login
fa fa-twitterfa fa-facebook-f
Student Circle Lettings
  • About Us
  • Properties
  • FAQs
  • Fees & Bills
  • Testimonials
  • Blog
  • Contact
  • About Us
  • Properties
  • FAQs
  • Fees & Bills
  • Testimonials
  • BlogPOSTS & TUTORIALS
  • Contact

LATEST

POSTS
9th February 2018  |  By Alan Malt

Letting agency fee’s & the impending ban

A  new draft bill was introduced to Parliament on 1st November 2017 to ban letting fee’s. This proposed bill has had mixed reviews with some tenants rejoicing over the ban and other concerned as to what this will mean in the future for the cost of their rent.

MP’s have responded to the draft bill with David Cox, chief executive of ARLA Propertymark, warning that the ban would result in a loss of income for agents and subsequently lost jobs, and demanded more clarity on the issue of whether or not agents could charge tenants default fees.

In an overview:

the bill introduces a ban on all upfront fees. Landlords and letting agents would be banned from charging any fees other than:

–          the rent

–          a refundable security deposit

–          a refundable holding deposit

–          ‘default fees’ if a tenant breaches a clause in their tenancy agreement (e.g. losing a key or missing a rent payment)

This would mean that tenants can no longer be charged fees for setting up or renewing a tenancy – including fees such as referencing fees, credit check fees and administration fees.

The bill also introduces a cap on deposits. Landlords and letting agents will only be allowed to charge a maximum of six weeks’ rent for security deposits, and one week’s rent for holding deposits. The bill also sets out guidance on when landlords and letting agents should return holding deposits to tenants.

Local authorities will be responsible for ensuring landlords and letting agents comply with the legislation. There will be a civil offence with a fine of £5,000 for an initial breach of the ban on letting agent fees and creating a criminal offence where a person has been fined or convicted of the same offence within the last 5 years. Civil penalties of up to £30,000 can be issued as an alternative to prosecution.

 

legislation letting agent fee ban letting agents

CATEGORIES

  • Awards (6)
  • Charity (1)
  • Fees & Bills (12)
  • General (91)
  • Insurance (1)
  • Investment (15)
  • Landlords (65)
  • Legislation & Law (30)
  • Licensing (1)
  • Maintenance (4)
  • Money (12)
  • Night life (1)
  • Our Views (16)
  • Security (4)
  • Students (27)
  • Tenants (7)

ARCHIVES

  • March 2020 (7)
  • August 2019 (4)
  • July 2019 (4)
  • June 2019 (3)
  • May 2019 (10)
  • March 2019 (5)
  • February 2019 (10)
  • January 2019 (7)
  • December 2018 (6)
  • November 2018 (4)
  • October 2018 (1)
  • July 2018 (2)
  • June 2018 (1)
  • February 2018 (3)
  • January 2018 (3)
  • November 2017 (1)
  • August 2017 (4)
  • July 2017 (2)
  • June 2017 (8)
  • March 2017 (1)
  • January 2017 (1)
  • December 2016 (1)
  • March 2016 (1)
  • December 2015 (2)
  • November 2015 (1)

COME VISIT US

2 Gladstone Terrace,
Hinckley,
Leicestershire
LE10 1HE

Serving Coventry & Warwick Universities

Earlsdon - Coundon - Stoke - Coventry City Centre - Chapelfields - Allesley - Tilehill - Holbrooks

Tel: 02476 5100 94

MORE ABOUT US

We are a local, independent firm specialising in Student Lettings and Property Management. As specialists we are fully focused on the priorities and needs of the Landlord and tenant, cheesy though it is everyone has to be happy in the Studentcircle.

Recent News

Find us on

Find us on Find us on StuRents
Student Circle Lettings
  • LOGIN
  • |
  • Terms & Conditions
  • Cookie Policy Information
  • Privacy Policy
fa fa-twitterfa fa-facebook-f
© 2019 Student Circle Lettings | All Rights Reserved | Web Design Sheffield