MANY TENANTS OWED £100’S BY THEIR LANDLORDS

admin    Uncategorized     agents

The Tenant Fee ban has
caused various unintended consequences since its introduction this summer. 

The Fee Ban means that
agents and landlords cannot charge for admin, key hand overs, inventory reports
and any other miscellaneous costs which now must be paid by the landlords. 

Part of the Fee Ban
covered a cap on tenancy deposits allowed to be requested. 

This meant that any
rental agreement under £50,000 in England can only ask for a maximum of five
weeks rent equivalent as a deposit. For any rental agreement over £50,000 six
weeks can be requested from the tenants. 

Alongside this holding deposits that are taken to secure a property that
a tenant wishes to apply for are allowed at a maximum of one weeks rent. 

It is now apparent that
there are hundreds of tenant’s due refunds on their rental agreement deposits,
some having paid eight weeks and over to abide by
their landlord’s requests in order to win the tenancy agreement from
a landlord. 

One of the tenancy
deposit protection schemes has just stated that since this piece of legislation
was introduced, they have had 2,550 repayment requests amounting to
over £817,000. 

Danny Zane the chair for
The AIIC and MD at My Property Group stated “This is just the tip of the
iceberg as for many years deposit requests had been on the rise in the highly
competitive Private Rented Sector. I am certain there will be many more
requests as many tenants will not even know about this and their rights”. 

The highest payment
released so far has been over £3,300.

Zane stated “This is
exactly as our Government intended with deposit caps coming into force and
renters being given back some of their hard-earned monies. Great news for
tenants all round”.

If you feel you may be
owed money then get in touch with the scheme awarded the safe holding of your
tenancy deposit.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – MANY TENANTS OWED £100’S BY THEIR LANDLORDS | LandlordZONE.

View Full Article: MANY TENANTS OWED £100’S BY THEIR LANDLORDS

If you enjoyed this article please consider sharing it!