For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants the following permitted payments:
- Holding deposit (to reserve a property) capped at no more than one week's rent
- Security deposit capped at no more than five weeks' rent where the annual rent is less than £50,000 or six weeks' rent where the total annual rent is £50,000 or above
- Payments to change the tenancy when requested by tenant, capped at £50, or reasonable costs incurred if higher
- Payment to change of Sharer per replacement tenant, capped at £50, or reasonable costs incurred if higher
- Payment associated with early termination of a tenancy, when requested by the tenant (capped at the landlord's loss or the agent's reasonably incurred costs)
- Utilities, communication services (eg. telephone, broadband), TV licence and Council Tax
- Interest payment for the late payment of rent (up to 3% above Bank of England's annual percentage rate)
- Reasonable costs for replacement of lost keys or other security devices
- Contractual damages in the event of the tenant's default of the tenancy agreement
- Any other permitted payment under the Tenant Fees Act 2019
If a tenant decides to rent a property through us in the name of a business or company the administration and reference fee will be charged.
SeOUL Residential is a member of The Property Ombudsman (TPO). This government approved redress scheme offers our clients and customers peace of mind that there is a free redress available in the unlikely event of an unresolved dispute involving our agency. SeOUL Residential is also a member of Client Money Protect (CMP) membership No. C0015963.