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Deposit Protection Cap

  • Posted Date 04/07/2017
  • Posted Byadmin

Description

With the recent queens speech confirming the tenancy fee ban is to take place around late 2018.  There has been some announcement into trying to cap the deposits equivalent to a month’s rent.

The decision to cap the tenancy deposits is a blow to landlords considering the recent changes in the reduction in tax relief and high stamp duty rates. These changes are having a great impact on landlords.

According to the National Landlords Association around 40 percent of deposits are more than one month’s rent. 

The new measures will be part of the draft Tenants Fees Bill that is proposed by the government. #depositprotection #dps