Government publishes Tenant Fees Bill to ban letting fees across England
The Government has now published it’s Tenant Fees Bill, which will ban all letting and agents fees charged to tenants by agents and landlords in England.
The new government bill to ban letting fees across England is set to save tenants millions of pounds and make the market fairer and more transparent.
The Bill will also give tenants greater assurances that the deposit they pay at the start of the tenancy cannot exceed 6 weeks’ rent.
Housing Secretary Rt Hon James Brokenshire MP said:
“This government is determined to build a housing market fit for the future. Tenants across the country should not be stung by unexpected costs.
“That’s why we’re delivering our promise to ban letting fees, alongside other measures to make renting fairer and more transparent.”
The Tenant Fees Bill will stop letting agents from exploiting their position as intermediaries between landlords and tenants, and prevent unfair practices such as double charging for the same services.
It will also help to increase competition between agents and landlords, which could help drive lower costs overall and a higher quality of service for tenants.
Read the Government announcement published 2nd May 2018 in full click here.
The Tenant Fees Bill sets out the government’s approach to banning letting fees paid by tenants in the private rented sector. The aim of the Bill is to deliver a fairer, more competitive, more affordable and more transparent market.
You May Also Enjoy
Inheritance Tax Receipts raise £0.8 billion in one month
Zoopla research reveals homeownership outranks marriage as top priority for UK adults
London rental market rebalances amid rising supply
Rightmove’s Weekly Mortgage Tracker
Streamlining Property Documentation for Fast Transactions
