Property

For properties in England, the Tenant Fees Act 2019 means that in addition to Rent, Lettings Agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments: • Holding Deposits (a maximum of 1 week's rent) • Deposits (a maximum deposit of 5 weeks' rent for annual rent below £50,000, or 6 weeks' rent for an annual rental of £50,000 and above) • Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if higher, any reasonable costs) • Payments associated with early termination of a tenancy (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 payments 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 a tenancy agreement • Any other permitted payments under the Tenant Fees Act 2019. Woods Properties Ltd is a member of UKALA (The UK Association of Letting Agents) with Client Money Protection from Let Alliance and the Property Redress Scheme. Full details are available on request.