On June 1st, big changes will be made to letting fees across the country.
The outline of these changes are as followed, the only costs landlords and agents will be able to charge tenants for will be:
- Utilities and council tax if included within the tenancy.
- A refundable deposit is capped at 5 weeks’ rent where the total annual rent is less than £50,000, or six weeks’ rent where the total annual rent is £50,000 or above
- A refundable holding deposit to reserve the property, capped at one week's rent.
- Changes to the tenancy requested by the tenant, capped at £50 (or "reasonable costs").
- Early termination of the tenancy requested by the tenant.
- Defaults by the tenant, such as fines for late rent payments or lost keys. These must be "reasonable costs", with evidence given in writing by the landlord or agent.
Any other fees will be banned, and landlords or agents found charging the fees could be fined £5,000 for a first offence. If they break the rules again within five years, they could be given an unlimited fine.
If you'd like to find out more about these changes, you can do so at the official Government website or the Citizens Advice website.
You can also talk to the University's Accommodation team, click here to find their contact details.