No Deposits & No Fees? What took everyone so long

31 May 2019 Deepika

Back in March 2016 when Tipi opened it’s first apartment buildings, our goal was to rip up the rental rulebook and make renting better for everyone. That meant being better than the uncaring estate agents (by not being one ourselves) and being more useful than the lazy landlords most Londoners get lumbered with.

The first thing we wanted to do was remove unnecessary costs like ‘fees’. It’s one of the main reasons why there is such distrust amongst renters when looking to somewhere to live in London. And you can understand why when they’re charged anywhere between £300-£600 to sign a piece of paper or go through referencing; to do an inventory or even just to have their home cleaned before they move in. So ‘fees’ had to go, we’d rather you save that cash to put to more important things such as a house-warming party or that much needed summer holiday.  

Tipi

 Now three years later, the rental market finally caught up and has decided to ban charging tenant’s* additional fees as of 1st June 2019. It’ll be covered on TV and the newspapers, but what does it actually mean?

Here are the top 5 key things you need to know about the Tenant Fees Act 2019:

Tenant Fees

 

Last year, we decided that the cost of a deposit was literally the same as your dream getaway to the Maldives – so we chopped them. And this year we’re looking at an easier referencing process where it literally takes a matter of minutes from start to finish with a decision there and then. Hurrah, I hear you say.

Find out more about life as a Tipi resident here.

*Oh yes, to us you are our residents or failing that our customers, never ‘tenants’. A small but very important difference.

 

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