The Tenant Fee Ban was brought in on the 1st of June 2019, of course if you own your own property or you’re paying it off through a mortgage then this won’t effect you at all. However, for those that rent properties or those that rent out properties take note as this could mean some big changes for you!
So essentially the fee ban is exactly that, landlords have been banned from charging their tenants as much in fees as they used too. The majority of fees that were charged to tenants have been completely banned now. Doesn’t matter whether you’re a private landlord or you use a lettings agent (like us here at Cardwells Lettings Agents Bury and Bolton) the new rules apply to everyone. This change was first brought up all the way back in 2016 and although it’s taken a few years to be put into process, it’s now finally here.
I’m sure you’re all wondering now, what fees have actually been banned and what changes have been made to tenant fees? Landlords or letting agents no longer charge for:
- any sort of costs to complete the reference
- any deposit over the price of five weeks worth of rent
- gardening costs
- cleaning costs
- inventory completion fees
- any default payments not detailed in the original tenancy agreement
These changes have been developed not to hurt the pockets of landlords and letting agents Bury, but to make sure that the lettings markets is a fairer place for all.
Letting agents Bolton and Bury
Here at Cardwells we’re proud to be known as fair and trustworthy letting agents. If you have any questions, whether you’re a landlord or tenant, get in touch with one of our team today and they will be more than willing to help!
Cardwells Bolton office – 01204 381281
Cardwells Bury office – 0161 761 1215
