From the 1st June 2019 the amount of deposit that can be taken from a tenant at the start of each new Assured Shorthold Tenancy (AST) or Occupation Contract and the renewal of all existing tenancies will be capped in England as part of the Tenant Fees Act 2019.
The total deposit that can be requested and taken from a tenant will be as follows:
– Where the annual rent is up to £50,000, a maximum of 5 weeks’ rent – Where the annual rent is £50,000 or over, a maximum of 6 weeks’ rent
The table below shows what action is required by landlords or agents at each stage of the Act.
Before 1st June 2019
After 1st June 2019
You must comply with the 5/6 week deposit cap
– New fixed term tenancy – Renewal tenancy
You are not limited by the 5/6 week deposit cap
– New fixed term tenancy – Renewal tenancy – Statutory/Contractual periodic
– Statutory/Contractual periodic
*Please be aware that the calculator is rounding the deposit up by 1p, it is your responsibility to ensure you are complying with the Tenant Fee Act 2019.