The Tenant Fees Act 2019
From 1 June 2019 the majority of fees that landlords or agents impose on their tenants in the private rented sector in England will be banned. This includes fees imposed on any persons acting on behalf of a tenant or guaranteeing their rent. The ban applies to all assured shorthold tenancies.
Permitted Payment
The only payments permitted and will be charged by Marble Sales & Lettings are:-
1. Rent
2. A refundable tenancy deposit - capped at 5 week's rent when annual rent is below £50,000 or 6 week's rent if annual rent exceeds £50,000.
3. Refundable holding deposit (to reserve a property). This will not exceed more than 1 weeks rent.
4. Payments to change the tenancy when requested by the tenant. The fee charged by Marble will be capped at £50.00.
5. Payments associated with early termination of the tenancy - when requested by the tenant. The fee charged by Marble will be capped at £200.00.
6. Payments in respect of utilities, communication services, TV licence and council tax.
7. Payments in the event of default - for late payment of rent and replacement of lost key / security device; provided the tenancy agreement requires such a payment to be made.
Conditions apply:
Loss of key or other security device giving access to the property - cost will only amount to what is reasonably incurred by Marble Sales & Lettings - capped at £20.00
Late payment of rent (more than 14 days overdue) - Interest will only be charged at a rate of 3% above the Bank of England base rate.
At Marble Sales & Lettings we believe in tailoring our services to the individual needs of each landlord. For those landlords wishing to be involved in the day to day management of their property portfolio we offer a "Lettings Only" service.
The majority of our clients prefer our "Full Property Management" service which is designed to meet the needs of those landlords who prefer not be involved in dealing directly with their tenants.
For a lettings only service we charge 7% whilst for a full property management service we charge 10%
