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Tenant Deposit Changes on Existing Tenancies

We let you know in January that all tenancy deposits that exceed the equivalent of five weeks of the property’s current rent will need to be revised, in line with the second stage of the Tenant Fees Act which comes into force in June 2020. We are currently checking each deposit against the Tenancy Deposit…

Extension of the Tenant Fees Act 2019

As you may be aware, the Tenant Fees Act came into force on the 1st June 2019. One element of this legislation capped tenant deposits at five week’s rent as a legal maximum. This applied for all new tenancies from 1st June 2019. However, this cap will be retrospectively applied to all existing tenancies on the 1st June 2020.…

Deposits: Wear & Tear?

As a Landlord you will have no doubt have heard the phrase ‘wear and tear’ at some point when it comes to property condition, but what does it mean and how do we determine what damage falls within this definition? Everything in a house has a lifespan, and this normal deterioration is a Landlord’s responsibility…

Reposit: The Deposit Alternative

Recent legislative changes mean that tenancy deposits are now capped at an amount equal to 5-weeks’ rent. Whilst this is usually enough to deal with most end-of-tenancy issues, some Landlords may wish to have additional cover. We have recently teamed up with Reposit in order to offer an alternative for traditional deposits. If you opt-in…