Call of the week: Holding deposits
It is twelve months since the end of the transitional year following the introduction of the Tenant Fees Act in England.
The Tenant Fees Act was introduced in 2019, and has applied to all tenancies as of 1st June 2020.
A member gave us a call recently because they plan to create a new tenancy in the summer. They wanted to know how the tenant fees ban has affected the taking of holding deposits, and whether they're legally required to fill out any paperwork relating to this.
The tenant fees ban in England is slightly different to the fees ban in Wales, and our adviser was happy to go through the steps our landlord needed to take to comply.
Click below to read the advice from our team! Remember, NRLA members can access expert advice six days a week via our landlord advice line on various tenancy-related matters. Not a member? Join us today from £75!
The NRLA has partnered with TDS (previously DepositGuard), mydeposits and Zero Deposit to provide you with a range of deposit protection options for your tenancies. Read more here.