Tenant Fees

The Tenant Fees Act 2019 bans most letting fees and caps tenancy deposits paid by tenants in the private rented sector in England. Below is a summary of the permitted payments that Nest Associates may charge.

Permitted Payments

Holding Deposit

A holding deposit of no more than one week's rent may be charged. This is to reserve a property. The holding deposit is put towards the first month's rent or returned if the tenancy does not proceed (subject to certain conditions).

Tenancy Deposit

A tenancy deposit capped at no more than five weeks' rent where the annual rent is less than £50,000, or six weeks' rent where the annual rent is £50,000 or above. All deposits are protected in a government-approved tenancy deposit scheme.

Rent

Rent is due as set out in the tenancy agreement. The first month's rent is typically due before the start of the tenancy.

Permitted Payments During A Tenancy

Changes to the Tenancy

If requested by the tenant, a charge of no more than £50 (or reasonable costs if higher) may apply for variations, assignments or novation of the tenancy agreement.

Early Termination

If the tenant wishes to end the tenancy early, they may be liable for the landlord's costs of re-letting the property and rent until a new tenant is found or the fixed term ends (whichever is sooner).

Late Payment of Rent

Interest may be charged at 3% above the Bank of England base rate where rent is more than 14 days overdue.

Replacement Keys/Security Devices

Reasonable costs may be charged for the replacement of lost keys or security devices.

Utilities & Council Tax

Tenants are responsible for utility bills and council tax as set out in the tenancy agreement.

Client Money Protection

Nest Associates is a member of a Client Money Protection scheme. For more details, please see our CMP page.

Redress Scheme

Nest Associates is a member of The Property Ombudsman redress scheme. If you have a complaint, please see our complaints process.