Since the Tenant Fees Act was introduced three years ago, caps on deposits and reduced costs have held letting agents accountable for hidden fees.
Tenancy deposit fees
For a property with an annualrent of less than £50,000, tenants will be charged a refundable tenancy deposit fee of no more than 5 weeks’ rent.
If the total annual rent is £50,000 or above, the deposit fee will be equivalent to six weeks’ rent.
A refundable holding deposit used to reserve a property will cost no more than 1 week’s worth of rent due to the legal cap enforced by the Tenant Fees Act.
source: express.co.uk