‘LETTING YOU KNOW’ – The Tenant Fee Act 2019

Posted on Tuesday, November 17, 2020

‘LETTING YOU KNOW’ – The Tenant Fee Act 2019

 

Did you know - It is illegal for landlords or letting agents to charge certain fees to tenants on new or renewed tenancy agreements that were signed on or after 1 June 2019.

You should check what fees (if any) the agent will charge and ensure they are complying with the Tenant Fees Act 2019 before agreeing to allow them to let out your property.

Any landlords or letting agents found to be in breach of the Act are liable for a fine of up to £5,000 in the first instance and if a further breach is committed within five years, they are liable for a fine of up to £30,000 or prosecution.

Government guidance for landlords and letting agents on the Tenant Fees Act 2019 is available here.

You may find it helpful to engage an agent to let and/ or manage your property, particularly if you do not have the time to manage the property yourself. You should check that the agent complies with all relevant regulations and if they are a member of an accredited professional body. Make sure you have a written agreement with the agent that sets out exactly what they will do on your behalf. If this is not clear, this might cause problems for you and your tenants.

Scoffield Stone is a licensed member of propertymark and the Property Ombudsman, holding Client Money Protection with propertymark.