Less than 2 weeks to go until the introduction of the ‘Tenant Fees Act (2019)’ and I was wondering what actions OpenRent have prepared in advance of the change and what we landlords are expected to do.
Will live listings be automatically amended eg Security deposits recalculated to ensure a maximum of 5 weeks rent or will we (the landlord) be responsible for manually amending our own live listings?
Will clause 8.3 in (future) AST Agreements be amended to read fourteen days instead of the seven days currently referred to with regards to charging of interest/chasing up late rent?
Hi Clive, thanks for bringing this question up on the Community. We’ll be shortly sending out an email with a bit more detail. Very happy to respond to your points directly, here, too!
We have every legal angle covered, standing-by and waiting to kick into place on 1st June.
As you mention, that will involve making changes to live listings around the deposit to ensure those landlords are compliant.
As you know from your helpful comments in the past, we’ve already made a deposit calculator which landlords can check out here if they’re unsure of their new maximum deposit value.
Clause 8.3 of our AST will be amended as you say.
There are relatively few new laws coming force on 1st June, so despite the profound positive benefits for tenants, there’s not that much that has to change about your OpenRent service
We’ve always done, and will always do, everything we can to make sure that our landlords aren’t at risk from breaking their legal obligations.