Watch out! Final details of tenant fees ban yet to be confirmed, warns TDS

first_imgHome » News » Watch out! Final details of tenant fees ban yet to be confirmed, warns TDS previous nextRegulation & LawWatch out! Final details of tenant fees ban yet to be confirmed, warns TDSDeposit scheme says agents need to be vigilant over next 24 days during the run up to June 1st when the tenant fees ban legislation become law.Nigel Lewis8th May 201901,788 Views TDS has warned agents that the final details of how the tenant fees ban will be implemented by the government have yet to be set in stone and that agents need to be vigilant.The update from the government-approved deposit protection service has been published to coincide with the launch of its online calculator to help tenants check if their rental deposit is legal after the fees ban becomes law on June 1st.After that date the maximum rental deposit tenants can be charged will be five weeks’ rent, a reduction of the current industry standard of six weeks’ rent.New calculatorThe TDS calculator, which is available on its website and is being distributed across other sites too, enables tenants to type in their monthly rent after which they are shown what their maximum deposit can be.But TDS also highlights how final details of the deposit cap are yet to be finalised within the government’s guidance on the tenant fees ban.“To ensure that our existing letting agent, landlord and tenant customers and new TDS customers are kept up-to-date as more details are released about the ban and how it could affect them, TDS has launched a Deposit Cap Bulletin that you can sign up to be notified as these changes come to light,” says Debbie Davis, TDS’ Assistant Director of Business Development.The changes apply to new and renewed tenancies with start dates on or after June 1st while existing tenancies are then included in the scheme a year later. May 8, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more