No Tenant Fees
On 21st June 2017 the Government announced a new 'Tenants' Fees Bill'.
This bill will prevent agents and landlords from making any charges to a tenant other than the rent and a deposit equivalent to one month's rent.
PLEASE NOTE: IT IS NOT CURRENTLY AGAINST THE LAW FOR AGENTS OR LANDLORDS TO CHARGE TENANTS A FEE. WE EXPECT THE NEW LAW TO BE INTRODUCED DURING 2018, POSSIBLY AS EARLY AS APRIL 2018.
At Lenwell we have been working towards an outright ban on tenant fees and although we believe the change in law will not make renting cheaper for tenants we do believe the change will help to make the rental market simpler for tenants and landlords. It will also help to drive out unregulated agents who charge exorbitant fees.
Properties advertised with 'No Tenant Fees'
To reserve a property you will be asked to pay a reservation deposit of an amount equivalent to one month's rent. This amount will be used towards your deposit when you move in.
Before moving in you will need to pay the first months rent and where a deposit of more than one month's rent is required the difference between the required deposit and the reservation deposit.
- Rent: £500
- Deposit required: £750
- Reservation deposit paid: £500
- Balance due to move in: £750
Refunds where a property is advertised with 'No Tenant Fees'
We aim to be fair in all our dealings with you and understand that things do not always proceed as expected. Where a tenancy does not proceed you can expect us to deal with refunds as follows:
If your offer to rent is not accepted by the landlord you will be entitled to a full refund of the amount paid.
If you fail to move into the property on the agreed date you will not be entitled to a refund of the amount paid to reserve the property.
If the references we receive do not match the information you provide on your application form you will not be entitled to a refund of the amount paid to reserve the property.
If your references are not accepted by the landlord but do match with the information you have provided on your application form you will be entitled to a full refund of all monies paid.
By opting for the No Tenant Fees deal you will receive the following at no cost to you:
The tenancy agreement fee
The administrative costs of creating a contract for the tenancy
The administration associated with holding your deposit with The Tenancy Deposit Scheme.
The cost of referencing includes checking your credit status, previous employer, current or past landlords, and taking into account any other information to help assess the affordability of your tenancy application.
The check-in fee and the check-out fee including the costs of conducting an inventory
Fees to renew the tenancy.
Guarantor arrangement/application fees
Are you a landlord?
If you are a landlord and would like to know more about our No Tenant Fees campaign please contact us.