Book a Property Valuation

The Tenant Fee Act 2019

From 1st June 2019 letting agents in England will only be able to make permitted payments to tenants.

Permitted payments as defined under the legislation only include the following:

  1. The rent.
  2. Refundable tenancy deposit – capped at no more than five week’s rent where the annual rent is less than £50,000 or 6 weeks’ where the total rent is £50,000 or above.
  3. Refundable holding deposit – capped at no more than one week’s rent.
  4. Payments to change the tenancy – where requested by the tenant capped at £50.00 inc vat 
  5. Payments associated with early termination of the tenancy – where requested by the tenant.

This must not exceed the financial loss that a landlord may suffer, or reasonable costs that have been incurred by the landlord’s agent resulting from an agreement for the tenant to leave early.

  1. Payments for utilities, communication services, TV licence and Council Tax.
  2. Default fee for late payment of rent and replacement of lost key/security devices, where required, under a tenancy agreement – default fees can only apply when this has been written into the tenancy agreement and covers late payment of rent, a lost key or security device. The amount of default fee is limited to 3% over the Bank of England base rate for each date that the payment is outstanding and applies to rent which is more than 14 days overdue.

 
 

Tenant Protection

Irwin Fishers is a member of CMP – Client Money Protect which is a client money protection scheme, and also a member of TPO, which is a redress scheme.

Fees to Landlords

 

Letting Only

Full Management
Year 1

3 Weeks of the rent + VAT payable in advance for the initial term of tenancy.

12.0% INC VAT / monthly. 1 Weeks Rent + VAT introductory (T&C's apply).

Renewal Fee (Payable for duration tenant remains in property)

3weeks + VAT / payable at the commencement of each fixed term.

12.0% INC VAT / monthly

Additional Fees

Let Only/ Rent Collection Full Management
Gas Safety Certificate £78 INC VAT £78 INC VAT
Energy Performance Certificate £78 INC VAT £78 INC VAT
Additional Inspections £60 INC VAT £60 INC VAT
Check Out Fees £120 INC VAT £120 INC VAT
Attendance to Court £84 INC VAT £84 INC VAT
Deposit registration fee payable upon registration of  the deposit by Irwin Fishers

£0.00

Included
Prepare & Administer Documents for Disputed Claims £180 INC VAT Included

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Irwin Fishers Ltd.. Registered in England.

Company No:6961076.  Registered Office Address: 42 Longbridge Rd, Barking Essex IG11 8RT
VAT Registration No: 165 7452 86

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