We use cookies on our website to improve your experience and understand how our site is being used. By continuing to use our site, you consent to our use of cookies. For more information, please see our Privacy Policy

x
  • My LT Account
  • Buy
      • Our Services
      • London Area Guides
      • Buying News
      • Expert Buying Advice
      • Property Search
      • Register for Property

      MORE OPTIONS

      • Buying Guide
      • Stamp Duty Calculator
      • Customer Reviews
      • London Area Guides
      • Expert Buying Advice
      • About the My LT Account
  • Sell
      • Our Services
      • Customer Reviews
      • Free Valuation
      • Buying? Register for Property

      MORE OPTIONS

      • Sales Brochure
      • About the My LT Account
      • Contact Us
  • Rent
      • Our Services
      • London Area Guides
      • Renting Guide to Virtual Viewing
      • Expert Renting Advice
      • Property Search
      • Register for Property

      MORE OPTIONS

      • Renting Guide
      • Guide to Virtual Viewings
      • Renting Explained
      • Customer Reviews
      • Renting Brochure
      • About the My LT Account
      • Tenant Fees Information
      • How to Rent
  • Landlords
      • Our Services
      • Definitive Buy To Let Guide
      • Quarterly Buy To Let Review 2021
      • London Buy To Let Investment Guide
      • Free Valuation
      • Buying? Register for Property

      MORE OPTIONS

      • Buy-To-Let Search
      • Guide to Letting
      • Landlord News
      • Customer Reviews
      • Expert Letting Advice
      • About the My LT Account
  • News

      MORE OPTIONS

      • Webinars
      • Buying Property News
      • Renting Property News
      • Selling Property News
      • Buy-To-Let Property News
      • Property Tips
      • Our News
      • ALL News
  • Contact
      • Q & A - Expert Buying Advice
      • Selling? Free Valuation
      • Letting? Free Valuation

      MORE OPTIONS

      • Our Story
      • Press Releases
      • Recommend Us
      • Careers
      • Office List
      • Customer Services
      • Property Management
      • Customer Reviews
  • my LT account
  • Menu
  • Buy
    • Back
    • Our Services
    • Property Search
    • Buying Guide
    • Stamp Duty Calculator
    • Customer Reviews
    • London Area Guides
    • Expert Buying Advice
    • About the My LT Account
    • Register For Property
    • Winter Property Guide
  • Sell
    • Back
    • Our Services
    • Customer Reviews
    • Expert Selling Advice
    • Valuation Request
    • Sales Brochure
    • About the My LT Account
    • Contact Us
    • Winter Property Guide
  • Rent
    • Back
    • Our Services
    • Renting Property Search
    • Renting Guide
    • Guide to Virtual Viewings
    • Renting Explained
    • Customer Reviews
    • Renting Brochure
    • London Area Guides
    • About the My LT Account
    • Tenant Fees Information
    • How to Rent
    • Expert Renting Advice
    • Winter Property Guide
  • Landlords
    • Back
    • Our Services
    • The Definitive Buy-to-Let Guide
    • London Buy to Let- The Investment Guide
    • London Buy-To-Let Review
    • Buy-To-Let Search
    • Guide to Letting
    • Landlord News
    • Customer Reviews
    • Expert Letting Advice
    • About the My LT Account
    • Winter Property Guide
  • News
    • Back
    • Webinars
    • Buying Property News
    • Renting Property News
    • Selling Property News
    • Landlord Property News
    • Buy-To-Let Property News
    • Property Tips
    • Our News
    • ALL News
  • Contact
    • Back
    • Our Story
    • Customer Feedback
    • Press Releases
    • Recommend Us
    • Careers
    • Office List
    • Customer Services
    • Property Management
    • Customer Reviews
X

My LT Account


Sign In

Forgotten Your Password?


New Customer

Easily book appointments, add property to your shortlist and many more features.

Register
Useful Links
  • About My LT Account
  • Property Management
  • Contact Us
HomeLandlords
Landlords Advice

The Tenant Fees Act has brought in a number of changes, including limits on Tenancy deposits. As a Landlord how does this affect me?


Our Answer

By ludlowthompson
Estate Agent

The Tenant Fees Act became effective from 1st June 2019, imposing a number of restrictions upon all new Housing Act tenancies signed from that date onwards. It defined precisely the costs chargeable to tenants relating to a tenancy, and as part of that restricted the value of a deposit that could be taken from tenants in relation to the tenancy.

Simply the Tenancy Deposit Cap defines the maximum deposit that can be taken for a tenancy as the equivalent of 5 weeks rent (where the rent is less than £50,000 per annum) and up to 6 weeks rent equivalent where the rent is more than £50,000 per annum.

Therefore any new tenancy commencing and signed after 1st June 2019, MUST only have a deposit at that value, with any additional taken being in breach of the legislation and considered a 'Prohibited' Payment under the Act, and thus must be returned to the tenant.

An existing tenancy (signed before 1st June) can continue to hold a deposit greater than the capped limits, either until its termination OR until 31st May 2020 (whichever is earlier).

The deposit schemes have launched useful guidelines for Landlords on the tenancy deposit cap, and how this can be managed and amended through their schemes.

Links to these guidelines are provided here for ease: 

For My Deposits - click here

For TDS - click here

Your ludlowthompson representative will be happy to help with any queries you may have regarding your deposit, registration requirements and re-registration due to tenancy changes.

12th June 2019

DISCLAIMER: Neither ludlowthompson nor their ‘experts’ take any responsibility for any action or loss incurred by readers of these pages. The reader acts on advice at their own risk. Answers to questions are not exhaustive. Financial advice must always be sought from a professional financial adviser


Share this article
  • Share on Facebook
  • Share on Twitter
  • Share on Linked In

More Landlords ADVICE*

  • What has changed regarding 'Right to Rent' checks? What do I need to do from 1st July 2021?

    What has changed regarding 'Right to Rent' checks? What do I need to do from 1st July 2021?

  • What is the Tenancy Deposit Cap?

    What is the Tenancy Deposit Cap?

  • I'm a Landlord with a tenancy that started before 1st June 2019? what does the Tenants Fees Act mean for me?

    I'm a Landlord with a tenancy that started before 1st June 2019? what does the Tenants Fees Act mean for me?

  • What do I need to know to let a property

    What do I need to know to let a property

  • Is my property affected by the new MEES regulations?

    Is my property affected by the new MEES regulations?

  • »
    More
    Landlords
    Advice

Free & Instant
Property
Valuation

In Just
60 Seconds

Start Valuation

Featured Advice

As well as the price of the property, what else do I need to budget for?
How much Stamp Duty will I have to pay when I purchase a property?
I'm looking to buy a property- why do I need to provide my estate agent with ID?

Advice

  • Buying Advice
  • Selling Advice
  • Renting Advice
  • Letting Advice

FREE & INSTANT PROPERTY VALUATION

IN JUST 60 SECONDS


Start Valuation

ABOUT US


  • Our Story
  • Covid-19 Secure
  • Press & Media Centre
  • London Buy-To-Let Review
  • Recommend Us
  • Careers
  • London Estate Agents

LONDON PROPERTY NEWS


  • Landlord Property News
  • Buying Property News
  • Renting News
  • Selling Property News
  • Our News
  • Webinars

PROPERTY TOOLS & TIPS


  • Stamp Duty Calculator
  • Expert Property Advice
  • Rss Feeds
  • Landlord Fees Information
  • Tenant Fees Information
  • Vendor Fees Information
  • Purchaser Fees Information

SAY HELLO


  • Find My Nearest Office
  • Property Management
  • Customer Services
  • Client Money Protection Certificate
  • Client Money Protection Scheme Rules
  • Follow us on Twitter
  • Like us on Facebook
  • Keep up with Ludlowthompson on Linkedin
  • Follow us on Instagram
  • Follow us on Youtube
  • TPOS (The property Ombudsman)
  • Consumer Codes Approval Scheme.
  • NAEA ( National Association of Estate Agents )
  • ARLA ( Association of Residential Letting Agents )
  • Investors In People | Gold
  • All Agents - Best Transparent Agent fo the year 2018

©2022 ludlowthompson.com. All Rights Reserved

Built with passion by Fusion Advertising & Design

Back to Top
Privacy Policy Site Map