The new Act bans letting fees for renters and caps the security deposits they have to pay.
The new Tenant Fees Act is now in force in England, capping the amount renters can be charged for their deposits and banning letting fees altogether as part of the Government's bid to reduce hidden costs for tenants.
The Government expects to save tenants across England at least £240m a year through the changes, here's what the new Act means for renters, landlords and agents.
What is the new Tenant Fees Act?
The new Tenant Fees Act is designed to reduce the charges that tenants face from the very start of the renting process, throughout their tenancy, and when their contract comes to an end, by getting rid of any hidden costs.
It bans letting fees paid by private tenants in England, and caps the security deposits they have to pay at five weeks' rent.
When does the Tenant Fees Act come into effect in 2019?
The new law was passed in February this year and the ban on tenant fees came into force on 1 June 2019.
https://www.homesandproperty.co.uk/property-news/renting/tenant-fees-act-2019-the-key-changes-for-tenants-landlords-and-estate-agents-a130916.html