Tenant Fees

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As of 1st June 2019, Sab Estate Agent adheres to the regulations that prohibit charging tenants any fees beyond those specified under Permitted Payments. This means moving into a new home and renewing a tenancy will now incur fewer costs.

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Permitted Payments:

• Tenancy Deposit: Capped at no more than five weeks' rent if the annual rent is under £50,000, or six weeks' rent if the annual rent exceeds £50,000.

• Holding Deposit: Capped at no more than one week's rent.

• Changes to Tenancy Agreement: If requested by the tenant, including changes of sharer, capped at £50.00.

• Default Charges: For late payment of rent or replacement of lost keys/security devices.

• Early Termination: Charges are applicable if the tenant initiates early termination of the tenancy.

Payments That Are Not Permitted: From 1st June 2019, Sab Estate Agent and landlords cannot charge tenants for:

• Setting up a tenancy.

• Renewing a tenancy.

• Check-out fees under the Act.

However, for tenancies entered into before 1st June 2019, if the original contract stipulated certain renewal fees, these can still be charged for renewed fixed-term agreements or statutory periodic agreements until 31st May 2020. Similarly, check-out fees for pre-June 2019 tenancies can be charged up until 31st May 2020.

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Additional Notes:

• Rent increases can only occur once per year.

• Unpaid rent or returned payments will incur interest at 4% above the Bank of England Base Rate from the due date.

For any questions or further information regarding fees, please contact Sab Estate Agent

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