Unless you’ve been hiding from every incarnation of the news ever (I wouldn’t blame you). Then you’ve heard about the Tenant Fees Bill.
This proposed new law is attempting to drive down the cost of renting in the private rentals sector.
The Draft Tenant Fees Bill is good or bad depending on who’s article you read. But one thing is certain, things are about to change for landlords, letting agents and tenants…
Landlords are required to place a tenant’s deposit in a deposit protection scheme for the duration of a tenancy. When the tenant leaves, the deposit is handed back, but if there are any issues, a landlord can withhold some or all of the money. The Deposit Protection Scheme (DPS), a government-backed service, has revealed the reasons why deposits are withheld by landlords.
Changes to the Tenant Fees Bill, which has just passed through Parliament, mean that landlords can no longer charge indiscriminate fees for spurious reasons. New plans revealed by the government a few days ago mean landlords will now have to provide evidence before they can charge tenants reasonable costs for repairing or replacing items.
This week we’re looking at all things landlord / tenant fees. From holding fees, deposit fees and end of tenancy fees, we’ll be covering everything you need to know about the different fees you’re able to charge your tenants, and the legislation that’s changing everything. You’ll be an expert by the end of this week!
Let’s get things moving with this incredible light bulb story.
Many landlords don’t want to take on social housing tenants. They actively discourage tenants in receipt of Universal Credit not to apply for their properties because they don’t want to be stuck with tenants who can’t/won’t pay the rent.
