Sawbridgeworth & Bishop’s Stortford Landlords - An Important Update on Tenant Fees - Our blog Book a Property Valuation

Sawbridgeworth & Bishop’s Stortford Landlords - An Important Update on Tenant Fees

Sawbridgeworth & Bishop’s Stortford Landlords - An Important Update on Tenant Fees

Market News Default Author 2nd June 2020

A 1 minute read to help landlords get things right.

 It’s worth noting the law has just changed on this. A year ago, the English Government introduced a ban on tenant fees on all new tenancies.

As part of this legislation, a one-year transition period covering pre-existing tenancies was granted.

This period has now finished meaning that tenant fees – regardless of when the contract was signed – cannot be charged.

Fees that fall into this category include charges for renewing a tenancy agreement, guarantor requests or credit checks.

 If you have a tenancy agreement that pre-dates June 2019, contact us for advice to ensure you’re doing the right thing.

Breach the law, and you face a £5,000 fine for a first offence. Get caught again within five years, and it’s a criminal offence and an unlimited fine.

We are all about keeping our landlords on the right side of the regulatory fence, so if you have any questions whatsoever get in touch today.

ADAM MACKAY

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t: 01279 600 567

e: sales@mackayproperty.co.uk

Mackay Property HQ
25 Bell Street
Sawbridgeworth
CM21 9AR

 

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