Tenants fees

Depending on the annual rent, letting agents can only charge tenants the following applicable fees: holding deposit, security deposit, interest on unpaid rent, bank transfer fees, changes to tenancy agreement fees and early termination fees.

Holding deposits are meant to secure the property while the landlord and tenant finalise the agreement. While they are generally refundable, holding deposits can be withheld if the tenant fails or defaults on certain checks or conditions.

As per the Tenant Fees Act 2019, tenants no longer have to pay for the renewal of tenancy.

The Tenancy Deposit Protection (TDP) scheme provides deposit protection for tenants and offers dispute resolution between tenants and landlords.

There are no hidden costs when renting through Benham and Reeves, as all associated fees and tenancy charges are disclosed up front at the beginning.