Posted on

As of June, you will need this to Rent your property

As time goes by, new legislation is put in place to make renting safer and easier for both tenants and landlords, protecting everyone involved with a property, and 2020 has some new rules for us to take note of. So are you looking to let out your property with Complete Residential Lettings? There is just one extra thing you will need to get done first, especially if you are looking to list your property with us once June 2020 commences…

So what is this extra item you will need to get your property showing within our rental listings as soon as possible?

The answer is, an Electrical Safety Check. As of the 1st June 2020, every property that goes up for rental will need a valid Electrical Safety Report that can be supplied to Letting Agents before the listing goes up, ready to be supplied to the relevant tenants when they move in. For now this legislation will only apply to new listings, however all rental properties housing tenants will also need these checks completed and documented by June 2021. These checks are required for every kind of rental property and failure to produce a valid report can lead to hefty fines of up to £30,000.

So what do you need to do? Call an engineer! This legislation means that before advertising your rental property, you must have a professional engineer come and do a full electrical check. A copy of the report produced from the completed check must be available to be supplied, much like current legislation for gas appliances. However this does not last forever, once your property has been checked, you will need to follow this up with subsequent Electrical Safety checks every five years to stay compliant.

This report shows and ensures that all electrical circuits and appliances have been checked and deemed to be in working order at the time the check took place. Having this report certifies that all electrical items in a property are safe to use, getting this check repeated each 5 years is crucial in ensuring this stays true.

Once you have this document in place it’s business as usual, we can list your rental property and work on finding you the most ideal tenant available. If you want to get in contact with us to arrange us taking over your rental, or need any more advice about this new legislation please just get in touch by using our contact form or giving us a call on 024 7667 9333.

 

Posted on

What is included in your tenancy agreement

Found the Coventry Property of your dreams and just need to draw up the tenancy agreement? Make sure everything you need is included before you add your signature, to save yourself from potential issues further down the line.

Your tenancy agreement is put in place as guidelines of ongoing practice and documented proof of the arrangements between yourself and your landlord. So having everything in order is crucial for this document to be of any benefit to you at all, let alone for the full duration of your tenancy agreement.

But what exactly will you find in your new tenancy agreement, and what should you always make sure has been included?

As an experienced Letting Agent, Complete Residential Lettings will do all of the paperwork for you, so when finding your Coventry Rental Property through us, you will not need to worry that anything is missing. However for your peace of mind we do ensure that the following has been outlined and included in your agreement. To keep both you and your landlord safe and happy.

Landlord / Tenant & Property Information

This includes the names of both yourself (the Tenant) and your landlord, as well as their contact information, should you ever need to get in touch with them. As well as any information on additional tenants to the property, who else is expected to be living there and if the property can be sublet.

Tenancy Start Date, Length & End date

A clearly stated part of the document that covers the length of your tenancy agreement duration. The date you are expected to be moving in to the property, how long you are permitted to stay there until you need to renew your tenancy agreement, as well as the date you will need to vacate if you decide not to stay.

Rent Agreements & Expectations

This will outline the total rent expected from the tenant during tenancy period, the agreed monthly payment amounts and expected dates of payment for the tenant. As well as the method of how this will be paid. We will also plan out any details in foreseeable alterations to these payments and how this would have to be executed if a change does occur.

What is Included Within the Rent

To keep things clear, and save any disputes for missed payments further into the tenancy. This part of your agreement will detail what your rental payments include, whether they cover your energy and water bills. As well as any other utility costs that are accumulated through living in the property. If they are not covered, these will have to be paid separately.

A Vacancy Notice Period

A notice period is the minimum amount of notice required from the tenant or landlord for the property to be vacated. This applies to both a tenant requesting to leave an agreement early, and a landlord requesting a tenant to vacate earlier than previously agreed. These times have set minimums by law, and can be discussed with us if you need any further advice.

Extras

As well as the above terms, there are a few implied terms that come with a tenancy that will be included and detailed further within your agreement. Such as who is responsible for any repairs and maintenance that the property needs during the tenancy period and guidelines and requirements set for the general upkeep of the home on the tenant’s part. There may also be some more obligations agreed between you and your landlord prior to drafting up your agreement, which will also be included in your document.

As your local, friendly Coventry Letting Agents, we are always here to help. So if you are looking to start a new tenancy, or have any questions about your existing tenancy / rental with us, please contact us on 024 7667 9333.

 

Posted on

How to apply for a property tenancy

Have you found the perfect Coventry rental property for you? Selecting the right rental property is not an easy task, so when the property, location and facilities are right for you, you just know. But how do you now apply for the tenancy?

With Complete Residential Lettings, applying for your ideal property is simple. All you have to do is fill in the appropriate form/s and send them over to us. We will then review your application and let you know if you have been successful. There will be no fee for unsuccessful applications, so you don’t need to worry about paying any unnecessary payments to find out the outcome of your application. 

We have four kinds of application forms for tenants to fill out, you just need to select the one/s that are relevant to you. 

 

Property application

Who is this form for

Any person/s looking to become a tenant of a property through Complete Residential Lettings.

What information is required

The form requires basic information to be submitted. Such as personal information, details of those due to live in the property alongside the main tenant, the applicant’s current living information, employment and income details as well as further information and holding deposit requirements should the application be successful. For this form the be valid a signature is also required to indicate compliance and understanding of terms and information provided within the application form.

Why this form is required

Our application forms are required so we can put you forward as a potential tenant. Collecting basic information that we can use to vet applicant suitability for the property in question and for use to move the rental process along should the application be accepted. This information will be reviewed and verified by Complete Residential Lettings and passed over to the property landlord where required for approval.

 

Want to get started on your property application?

Student application

Who is this form for

Students looking to rent a property for student accommodation, whether alone or as part of a shared living agreement.

What information is required

The information on this form is similar to the normal property application. Including personal information, additional income, current living arrangements as well as a signature of compliance and understanding of specified terms. However further information is also required to detail the course being taken by the tenant as a student. Including the course name, university being attended and the course type and duration.

Why this form is required

This form is required for Complete Residential Lettings to put you forward as a potential tenant of the property. Allowing us to verify your personal information and course details. Ensuring the appropriate funding is in place before approving the application.

 

Are you a student looking to apply for a property through Complete Residential Lettings?

Company Let application

Who is this form for

A company who is looking for space to rent as a business. This kind of tenancy is arranged between the landlord and the company, rather than a living agreement for a singular person.

What information is required

This form is a little different from our other tenancy applications, as it requires company details as well as the standard personal information. We need to know your company name and registration number as well as the current business address and the personal applicants role within the company. This gives the landlord a good idea of who they are potentially renting to. Further information such as current address, accountant and solicitor details are also a required part of the application process and must be submitted onto the form.

Why this form is required

Our Company application form is required to provide Complete Residential Lettings with all of the information we need to perform required background checks. Ensuring a business is a suitable applicant for the space in question before we put them forward for potential tenancy.

 

Looking to move your Company into a new space?

Guarantor form

Who is this form for

A person who is acting as a guarantor for a potential tenant who is applying for a property through Complete Residential Lettings. Someone well known to the applicant who is confident to put their name forward to verify tenancy terms will be met.

What information is required

The information required on this form is much the same as that of the property application itself, as we still need to verify the source and reliability of each guarantor. The application includes personal details, current living address as well as employment and income information. Alongside this we require a signature of compliance with the terms and personal checks that are performed by Complete Residential Lettings.

Why this form is required

Tenancies will require a guarantor to verify the reliability of the applicant’s ability to fulfil the tenancy agreement. Ensuring that all rent and damages will be accounted for by the tenant. Providing Complete Residential Lettings with more confidence in moving forward with the particular tenancy.

 

Planning on being someone’s guarantor?

 

Posted on

Buy to Let – What you need to know

New to letting out property? There are many questions that arise for first time landlords, even before you have selected the property itself. Because of this, Complete Residential Lettings have put together some answers to the more common Buy to Let questions that cover the whole process. Right from selecting and obtaining your ideal Coventry property to the final stage of moving your tenant in and collecting rent.

What kind of property should I consider?

When considering a property to purchase you need to consider whether it will suit your needs as well as being an attractive rental property. Consider the location and what kind of properties will rent faster and which will bring in more overall benefit. Which you choose depends on your personal goals for the property. For further advice speak to your letting agent about properties that are best and more likely to work for you.

Can I live in a Buy to Let property?

In most circumstances, no. You cannot live in a property that has been purchased using a Buy to Let mortgage. As a majority of these purposefully state that the owner cannot live in the property in question themselves. Much like standard mortgages do not allow rentals to take place. Living in your property regardless of this could end up invalidating your mortgage completely. However there are exceptions to the rule if you have paid off your mortgage completely, the property is usually yours to do with as you please. 

What is a Buy to Let mortgage?

Buy to Let mortgages are in place so that landlords can take them out on a property that they want to let out. This kind of mortgage gives you the ability to rent out the property before you have paid everything off and can be opened as long as you already own your own property. A Buy to Let mortgage will usually come with higher fees and interest rates as well as a few more differences compared to a standard mortgage. But overall they feature a lot of the same rules. 

Difference between buying a flat and a house to Let?

The key difference to keep in mind when purchasing a flat to rent rather than a house, is that the whole property will not be yours. You may be required to pay additional fees such as service charges and ground rent. As well as any extra expenses that vary depending on the specific property location and grounds. Repair costs will also differ between the two, as it changes who is in charge of larger repairs such as roofing. Be sure to check these kinds of responsibilities before purchasing a property, whether it be a house or a flat.

Do you have to pay tax on Buy to Let property?

Yes, in the UK stamp duty land tax will always have to be paid on your Buy to Let property. The amount of tax that you pay will vary depending on your properties value and location. Currently anywhere between 3% and 15% can be charged, dependent on your property value. However, this will vary further in different locations such as Scotland and Wales, where different fees and charges are required.

What do I do if my tenant stops paying rent?

If you rent is definitely overdue from your tenant, you have the right to get in touch and question the missing payment. As a letting agents, where a fully managed contract is set up with us, Complete Residential Lettings will be in touch with your tenant and resolve this issue for you. However if managing the property on your own you will need to contact them on your own accord and where applicable involve their guarantor to notify them of late payments. Overall the goal is to try to find the reason for the issue and resolve the situation in a way that suits both you and the tenant. 

Who is responsible for major repairs to by Buy to Let property?

This depends on what kind of major repairs you are referring to. Generally as the leaseholder, you are usually responsible for any repairs that are required internally. Such as plumbing or standard damage repairs. However, the freeholder, whoever has management over the land that the property is on, is responsible for exterior repairs such as roofing and windows. You will need to check who freeholder responsibilities fall to when purchasing your property.

Still have more questions about Buy to Let property?

Get in touch! We are here to help with any queries you may have. Contact Complete Residential Lettings on 024 7667 9333

 

Posted on

Renting property through a Letting Agent

Considering letting out your Coventry property to bring in some extra cash? Letting on your own can be time consuming, sometimes even feeling like a second part time job. As a Landlord you will be required to market your property, find a suitable tenant and sort all legalities along the way. Whilst also maintaining the property and collecting rent once the new tenant has moved in.

Don’t have time for all that? That’s where your Letting Agent comes in.

Complete Residential Lettings offer a comprehensive service that ensures that you will not feel the weight of letting out your property personally. We have an average renting time of just three weeks and guarantee a friendly, helpful service along the way. So how can you let your property with us?

 

Step 1 – Is Letting right for you?

Before one of our agents gets started on listing your property, they will run you through the process of letting out your property. Covering topics such as how renting works, how your premises will be managed moving forwards and any legal requirements you will encounter along the way, such as the living standards of your property and any laws you will have to adhere to as a Landlord. We will also make you aware of any new legislation that you may not be familiar with, such as the June 2019 changes to how your Letting Agent can operate whilst letting out your premises.

 

Step 2 – Getting your property on the market.

To list your property with us, we will provide a free valuation of your premises so we can ensure we are letting it for the best value possible. This will then be listed online, ready to be seen by any potential tenants. Showcasing the property with the relevant information and monthly rental cost to attract the right kind of tenants. Whether they be students or someone looking for a more long term home.

 

Step 3 – Finding potential tenants

This part is all down to us! Sit back while we source potential tenants for your property. Advertising your property to renters in Coventry using detailed photos and all the relevant information a potential tenant would need. Such as the property size, location and facilities. Our Agents will then go through the potential tenants and check their suitability for your specific premises, our checking process ensures that we are putting forward tenants that fit your criteria. Guaranteeing each matches the property and their background is fully validated. Whether you are looking to rent out to families, students or even companies.

 

Step 4 – Let us take care of the letting process

Let us take care of the letting process for you! We will arrange showings with the suitable candidates selected. Guiding them through the property to point out its key features and answering any questions they may have. Once a tenant has decided to apply for the property and been approved, Complete Residential Lettings will also help them fill out the relevant forms. Gathering the required tenant information and ensuring that all the necessary papers are signed. Drafting up a rental agreement that suits both yourself and the tenant. You will not need to do a thing, as our agents will even collect your deposit and arrange any maintenance needed before anyone moves in. However we will be sure to stay in contact with you throughout the whole process.

 

Step 5 – After the agreement

Once your new tenant has moved in and got settled, our agents will either be available to lend a hand to your tenants or simply on call for you when you need us. This is depending on the level of service you request from us when setting up your tenancy agreement.

  • Let Only – The rest is up to you. We will be on call if you need us, but getting the property successfully let is our role.
  • Rent Collection – All rent for your property will be collected through us, so you will not have to personally chase up your tenant for any late payments. However any other issues the tenant has will come to you as their landlord.
  • Fully Managed – Complete Residential Lettings become your tenants first call. Their rent will be collected through us and we will be their main contact for any issues or maintenance they may need throughout their tenancy. Allowing you to continue with peace of mind that your property is being taken care of.

To get your property listed with Complete Residential Lettings in Coventry, please contact us online or give us a call direct on 024 7667 9333.

 

Posted on

Moving to Coventry? What you need to know

Moving to Coventry? Relocating is a big change and getting to know the area you are moving to is key to help you settle back your daily life as quickly as possible. So whether you are looking after a rental property for a new job, interested in local travel or just want to know more about City itself we will outline the basics of Coventry life.

 

Transport and travel

Travelling around a built up city can be stressful, especially when you are new to the area. Building traffic and confusing directions can turn a simple journey into a nightmare, even travelling on foot can be difficult. But Luckily Coventry has multiple options to help you get around.

  • Bus services – Coventry has an extensive bus service utilising multiple transport providers that are great for local stops. With Pool Meadow Bus Station located in Coventry City Center, just around the corner from the Coventry Transport Museum.
  • Rail Network – If you find yourself needing to travel a little further than your local shops, then you can make use of the train network running through the City. Coventry Train station offers two customer car parks, quick access to Birmingham and only an hour ride to London.
  • Taxis – If neither of the above options are appealing to you, then like all cities throughout the UK a range of taxi services are available on demand to get you where you need to go.

 

Working in Coventry

Looking for a new job or want to see if your current Company has a firm in Coventry? You should have no problem finding a job role that suits your needs.

  • Job availability – The UK Powerhouse Study from 2017 found that the job market in Coventry is growing fast. With an increase of 1.2% of people in work during the third quarter of the year. A rise that is supported by the many successful companies located throughout Coventry
  • Companies situated in Coventry – With such high employment rates, comes many hiring companies. Coventry boasts a large amount of well known organisations throughout the area. Including names such as Jaguar Land Rover, Severn Trent, Eon, The University of Warwick, Barclays and many more.

 

History and character

Brought to Coventry by your interest in its local areas and heritage? The history of the City is extensive, interesting and worth looking into. However there are a few defining factors that make themselves well known.

  • Coventry History – Originally a Saxon Village, the City of Coventry was a rapidly growing settlement, with a much smaller population than it sees today.
  • Industry – It first found footing within the wool dyeing industry. Later moving onto silk as the years rolled by and demands changed.
  • World War IIMuch of Coventry City Center was destroyed in World War 2, including St Michael’s Cathedral. However, it was later rebuilt into the City it is today.

 

Things to do

There is always something to do in the City, whether you are interested in long standing landmarks, aviation history or even landscaping and gardens.

  • Coventry Cathedral – Also known as the The Cathedral Church of St Michael, is situated next to the ruins of its former medieval cathedral. Put out of use during World War II due to extensive damage from bombs, only the outer walls and spire remain.
  • St Mary’s GuildhallTaking you back in time with its gorgeous interiors and scenery. Once used as the Mayor’s headquarters, this building is now free for the public to roam.
  • Midland Air MuseumLocated in a hangar adjacent to Coventry Airport and kept open largely by volunteers, the Midland Air Museum offers a range of things for visitors to see and experience. Including books, photographs and the aircraft themselves.

 

Property within Coventry

Looking for a place to live within Coventry? Whether you are in need of a house, flat or other type of accommodation within this bustling City, you can find it here Coventry Rental properties.

 

Posted on

What are my responsibilities as a tenant?

So you’ve moved into your new rental property and got settled in, but now what? Will you need to stay in close contact with your landlord or estate agent, and what can they legally expect of you whilst you are living in their property? 

When you started your tenancy with Complete Residential Lettings you will have received a guide to being a tenant within the UK. This will give you all the information you need regarding moving forward in your new tenancy agreement. However, we have listed out the basics here so you can get a good idea of what life as a tenant will be like!

 

To live in a rental property you must adhere to certain guidelines. Not following these can result in your landlord making the decision to have you evicted from the property, regardless of the point you are at within your lease period. These guidelines are listed below.

You must:

  • Pay rent, with no exceptions – Agreed rent must be paid even if there are repairs waiting to be fixed. You must also pay any other agreed fees on time, such as tax or household bills.
  • Take care of the property – Doing so by not performing actions that will likely damage the property in any way. Also by paying for or repairing any damages caused by yourself or visitors during your tenancy.
  • Allow your landlord access to the property when a repair or inspection is required and has been arranged – Allowing them to gain access to rectify the repair or do a routine inspection on the home.
  • Not sublet the property – Unless an alternative agreement has been made and documented with your landlord.

 

When following these guidelines, you should run into no issues. However, following these rules is not the only thing you should keep in mind whilst renting. As well as having responsibilities within a rental property, you also have your own set of rights whilst living in one. These are as follows

You have the right to:

  • Live in a safe environment – The property must be healthy to live in, with dangerous repairs and conditions sorted before tenancy is signed or in reasonable time whilst you are living in the property.
  • Obtain a written agreement – Between you and your landlord if your fixed term tenancy is for longer than a period of three years.
  • Live quietly – Without your landlord invading your home on a regular basis or unannounced.
  • Challenge high charges – If an unreasonable change is made to your tenancy agreement or fees once it has been started or is about to be renewed you have the ability to question this and potentially get the increase reduced.
  • Not be unfairly evicted – Your tenancy agreement will protect you from being evicted without valid reasoning. A valid reason would be you ignoring one of the guidelines listed above.
  • Have your deposit returned – At the end of your tenancy agreement your landlord has to return your deposit to you. With them ideally entering it into a protection scheme at the start of your tenancy.

 

So is this the same when using a Letting Agency rather than going straight to the property owner?

When using an agency such as Complete Residential Lettings, your rights and responsibilities as a tenant remain the same, however you will not need the direct contact with your landlord that is mentioned above. We will be your number one contact for any issues and questions and will be the first place to contact to resolve repairs. For further information, please consult your ‘How to Rent Guide’ provided or get in contact with us for further rental advice.

 

Posted on

How to report repairs to your landlord

Experiencing an issue in a rental property that needs to be repaired? It’s a common issue, things go wrong and accidents happen, naturally the next step is to contact your landlord. Whether the damage was accidental or through circumstances out of your control, it is crucial that your landlord is contacted so they can get it solved for you. If covered by your rental agreement, the service will often at their own expense rather than yours. However not informing your landlord could mean you are liable for damage further down the line.

But we understand that getting hold of a busy landlord can be difficult at times, so all of our tenants that choose to use Complete Residential Lettings as their Letting Agent have an alternative way to report their repairs. Cutting out any time that would be spent calling their landlord. Our reporting service is quick, simple and available online 24/7 so our tenants know their request will be noticed and dealt with promptly.

Reporting a repair to us is easy and you can report absolutely anything within the property that you feel needs attention. Be sure to contact us if you have an issue with your water, gas, heating, fires, security, pests or even the appliances supplied by your landlord. As well as many other circumstances that can arise within your home. Our reporting system ensures that you give us all the information we need straight away, so there will be no need for us to chase you up for extra information on the issue. Leaving us free to get a quicker response for you.

So how does a Complete Residential Lettings tenant go about reporting an issue to us? Simply visit our quick and simple Reporting Tool then follow the quick steps below. 

  • Select the option that best describes the type of issue you are having, whether it be with water, electrics or even fire.
  • Tell us the location that the problem has appeared in. Any location indoors or outdoors within your property boundaries is available.
  • Choose the option that specifies the exact issue you are experiencing.
  • Use the text boxes below your selection to provide us with any extra key information that can help us get the appropriate repair arranged for you, with the previous selections completed there should not be too much to enter here.
  • Please then provide us with any images of the issue that you can.
  • Enter your property address and personal contact details below.
  • Your form is now completed and ready to send!

When your form is completed, check it over and get it to us right away! We will get back to you as soon as possible with a solution for your repair.

 

Posted on

Best schools in Coventry

Whether you are looking for a property to rent in Coventry or you are already sorted and ready to move in, getting your children sorted into a school is important. It can even change your decision on the exact location you choose within the city, or have you sorting out potential routes from the area you have already selected. Everyone just wants the best schooling experience for their kids, so take a look at the currently ranked best schools within Coventry and see if any are near you. Below are the top 3 ranked schools according to schoolguide.co.uk.

Bablake school

This school is an independent school residing within the CV1 postcode in Coventry. With a bus route nearby, there is an accessible route if you live slightly further away than walking distance. The school at its last check offered education to 758 pupils aged between 11 and 19. Acting as a high school. Bablake holds the top ranking on schoolguide.co.uk due to achieving great scores within the ranking system they provide. There are not many details available online as they are a private school, but GOV.co.uk ratings say that pupils steadily make good progress between the different learning stages and levels within the school. Suggesting a high level of development.

King Henry VIII School

King Henry VIII is another independent school but this one resides within the CV3 postcode. Boasting a train station and a bus route nearby, the school is incredibly accessible from the surrounding areas as well as the immediate neighbourhood. At its last check the school taught 741 pupils aged 3 to 18 making it an education system for all ages. Holding second place in the schoolguide.co.uk rankings due to their great scores in the set ranking system. Similar to Bablake school there is not much public information on Gov.co.uk as it is another independent school however they also noted significant improvement for pupils between different learning stages.

Finham Park School

Unlike the other two on the list, Finham Park School is not an independent school. Residing with the CV3 postcode it has a bus route nearby. This school holds the third ranking in the schoolguide.co.uk top 3. During its most recent check the school held 1480 pupils aged 11 to 18, making it the second high school on the list. Gaining its ranking for its high standard of education according to schoolguide.co.uk’s standards. GOV.co.uk state a 70% statistic for students achieving 5 GCSEs or more with 98% of pupils staying in further education or moving into employment after initial schooling ends. As well as this, they also hold the same ranking as the other top two schools for progress made by pupils between learning stages.

Are none of the above schools suitable for your child or location? Check out the Top 5 ranking primary and high schools in Coventry. Not including the three schools already mentioned.

 

Top 5 primary schools

1st Ranking – Christ the King Catholic Primary School – CV6 Postcode

2st Ranking – All Souls Catholic Primary School – CV5 Postcode

3rd Ranking – Moseley Primary School – CV6 Postcode

4th Ranking – St Osburg’s Catholic Primary School – CV1 Postcode

5th Ranking – Earlsdon Primary School – CV5 Postcode

 

Top 5 High Schools (After those shown above)

4th Ranking – Blue Coat Church of England School and Music College – CV1 Postcode

5th Ranking – Caludon Castle school Coventry – CV2 Postcode

6th Ranking – Bishop Ullathorne Catholic School Academy – CV3 Postcode

7th Ranking – President Kennedy School Academy – CV6 Postcode

8th Ranking – Cardinal Newman Catholic School A Specialist Arts and Community College – CV6 Postcode

If you are looking for any more information on the location you are moving to, be sure to speak to your Coventry Letting agent. They will be able to advise you on any queries you may have about the surrounding areas or amenities.

 

Posted on

Changes to letting in 2019 you need to know about

2019 provides a huge change in the way that rental properties are let out to tenants. With new legislation on the way, the fees you pay as a new tenant in a property will be largely affected. The new bill has greatly altered what your landlords and letting agents can ask of you. Introducing new caps and a more select group of approved charges, these changes are to become law.

So when does it come into effect? Sooner than you may think! June 1st 2019 is the official day where this bill becomes law. So you will be seeing the changes it makes to the letting process before you know it! All rental tenancies signed after this date are covered by this new legislation and Complete Residential Lettings are no exception to this. So what are you still required to pay?

Fees acquired on the tenants part

Any fees that would be created by the tenant will still be in effect. However there will be some changes to their enforcement.

Default fees – Charges triggered by the tenant will still be charged for. Things such as replacement keys, security devices and late rent fees are still chargeable. As these are out of the hands of the landlord or letting agent and the cost falls solely on the tenant. However each charge must be paired with evidence to prove the fee was needed and reasonable.

Tenancy Changes – Fees for tenancy agreement changes are also chargeable, when initiated by the tenant themselves. However these fees are now capped at a cost of £50, unless the landlord or letting agent can prove a higher cost to be necessary. Then they will be allowed to charge a higher amount, as long as it is proven a reasonable cost.

Basic renting fees

Standard renting fees are also still approved under the new bill. However each must be proven as a required fee.

Deposits – Refundable deposits used to hold a property are still legal. However every deposit will now have to be capped at a cost of one weeks rent, no more than this can be asked for. As well as the new cap, stricter rules will be put in place as to what happens with that deposit until an agreement is made.

Security / tenancy deposits – A deposit can still be asked for when required. But this has also gained a cap of its own. This deposit can now only be a maximum of five weeks rent of the property in question. This is unless the annual rent is £50,000 or above, in which case the maximum charge is six weeks worth of rent instead.

Other fees – Utility fees and council tax will still appear in your renting fees.

 

For many letting agents, compliance with the changes will not be far off from their current practices, however all are being pushed to review their guidelines to ensure they are up to standard. As an offence towards this legislation can lead to a £5,000 charge for the first time, with a much higher cost for repeat occurrences.

If you have any questions, be sure to speak to your letting agent or landlord as you get ready to begin a new tenancy agreement.