Allowable chargeable fees by Stopwatch Living Ltd to tenants
Under the ‘Tenant Fees Act’ from 1st June 2019 for new tenancies and from 1st June 2020 for existing tenancies, the following fees can be charged to the tenant, where applicable:
- Holding deposit (capped at one week’s rent and subject to a number of provisions.)
- Security deposits (limited to five week’s rent)
- £50 (or higher if reasonable costs are incurred) to change the tenancy if requested by the tenant.
- Payments for early termination of the tenancy, where the early termination is requested by the tenant (usually the loss in rent resulting from a tenant’s decision to leave and/or the costs of re-advertising, referencing, or reasonable costs to an agent (such as referencing and marketing costs.) A tenant must pay rent as required under their tenancy agreement until a suitable replacement tenant is found. A tenant can be held liable for rent until their fixed-term agreement has ended or, in the case of a statutory periodic tenancy, they have given the notice required under their tenancy agreement. However, the landlord will not charge more than the rent they would have received before the end of the tenancy and/or will not benefit from two rent payments on the same room at any one time.
- Utilities, broadband, TV, phone and Council Tax (Non applicable unless a whole house electrical and gas bill totals above £200 per month, when the additional amount will be required of the collective tenants.)
- Replacement of lost keys (at cost)
- Interest on late rent payments (once those payments are at least 14 days late)
Where a tenant breaches their agreement and damage is caused as a result, the landlord can still be compensated via deductions from the deposit or court action.
The tenant is also liable for damages during the tenancy.
The Landlord reserves the right to increase the rent at any point after the initial six months of the contract. Notice of a rent increase will be provided at least a month in advance and will be communicated in writing e.g. by email to the tenant.