From 1st June 2019 landlords in England are limited to the equivalent of 1 weeks’ rent as the holding deposit. This is to reserve a property. Please note this will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a right to rent check, provide materially significant false or misleading information or fail to sign their tenancy (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing. Should the Tenant(s) withdraw or fail referencing due to non-disclosure and/or falsified references this fee will not be returned. It can, with your agreement be used as a contribution towards your first month’s rent or Tenancy Deposit if the Tenancy proceeds to move in/completion.
From 1st June 2019 landlords in England are limited to the equivalent of 5 weeks’ rent for new and renewed tenancies (or 6 weeks if the annual rent is £50,000 or more). Get the deposit cap right with our handy calculator..
We hope you never need to use this, but we like to be fair and transparent, and we have provided you with a calculator to see what the late payment charges would be if you are in arrears. You should check your tenancy agreement for any specific rates or amounts, in order calculate the amount owed.