Tenancy info

The Tenant Fees Act 2019, also known as the tenancy fee ban, prohibits letting fees charged to tenants in England, and caps tenancy deposits. landlords and letting agents cannot charge tenants for services like referencing, credit checks, or administrative tasks associated with setting up a tenancy. The Act aims to make renting more affordable and transparent for tenants. 

What’s allowed.

• Rent: The primary cost of renting remains unaffected by the ban.
• Tenancy deposits: Capped at five weeks rent.
• Holding deposits: Capped at one week’s rent.
• Fees for changes to the tenancy: Fees for changes requested by the tenant, capped to reasonable costs.
• Fees for early termination: Fees are chargeable for ending a tenancy early, if requested by the tenant. – Rooms £150.00 – Houses & Apartments 50% of One Month’s Rent- Once Paid, Marketing will start- When a new Tenant Moves in the previous tenant’s liability ends.
• Utility bills and council tax: It is the responsibility of the Tenants to pay utility bills where applicable.
• Fees for late payment/default: Interest is chargeable for late rent payments after 14 days equal to 3% above Bank Of England Base Rate.
• Lost keys: Fees for replacement keys are charged Contractors rates apply.
• Internet: Complimentary where supplied.
• Deposits: Held by the Tenancy Custodial Scheme

When Reservation Charges Become non-refundable.

Payment of the Reservation Charge (Holding Deposit) will stop any future viewings (Exclusivity Period) on the property during your application period and if your application is successful until the agreed date of occupancy. It does not guarantee that you will be offered a tenancy. Holding Deposits will be deducted from the total balance due on the date of occupancy.

During the application process, an applicants’ suitability is determined using various referencing methods including Previous Landlords, Credit Reference Agencies, Employment, Farefield Properties Internal Credit Score, Affordability, Character, and other methods.

Potential tenants are also checked for Money Laundering, Right to Rent, Right to work verification, where applicable and any Current lawful requirements. In some cases, you may be asked to provide a guarantor for various reasons including and not limited to: Age, Part time Employment / New Employment/Risk Assessment.

If the proposed tenants financial or personal circumstances change, false information is provided which causes the proposed tenant to no longer meet with the required criteria or Discrepancies of any information provided,  information is not supplied in the required period, will result in the tenancy not being offered. NOT complying with Farefield Properties terms and conditions allows the company the right to terminate the agreement during the exclusivity period and the proposed tenant will not receive any refund of Holding Fee.

If the proposed tenant decides for any reason that they no longer wish to proceed with the tenancy, Farefield Properties will not return the Holding Fee paid to cover their costs and/ or losses.

Should the prospective tenant pass all referencing enquiries during the exclusivity period, with no discrepancies within the information provided and Farefield Properties have a valid reason for not approving the tenancy your holding fee will be returned in full.

Completion of your Tenancy Term

On completion of your tenancy term the tenant has the right to extend the tenancy period or terminate the tenancy if no breeches have occurred. It is the responsibility of the outgoing tenant to cancel any Standing Orders for rent or utilities upon completion of Tenancy. The Tenant is also responsible to ensure that the property is left clean, in good order and in the same condition at the start of the tenancy, subject to fair wear & tear, otherwise reinstatement charges may be applied for repairs, replacement, cleaning etc