UK Letting Agent Fee Ban A Boon For Temporary Residents

By Fiona Moore, for ExpatBriefing.com 15 November, 2017

The cost of temporarily renting property in the UK is to likely drop under legislation tabled before the UK's parliament that would prevent tenants from being charged letting fees.

The change will be particularly beneficial for non-UK residents living temporarily who may be unfamiliar with the rules surrounding letting property in the UK.

Announcing its plans, the UK Government said evidence shows the level of fees charged are often not clearly or consistently explained, leaving many tenants unaware of the true costs of renting a property. "This latest action will help improve transparency, affordability and competition in the private rental market. It will also prevent agents from double charging both tenants and landlords for the same services," it said.

Communities Secretary Sajid Javid said: "This government is determined to make sure the housing market works for everyone. Tenants should no longer be hit by surprise fees they may struggle to afford and should only be required to pay their rent alongside a refundable deposit. We're delivering on our promise to ban letting agent fees, alongside other measures to make renting fairer and increase protection for renters. As part of wider plans to improve the rental market, government has already introduced measures that crack down on the small minority of rogue landlords that shirk their responsibilities.

The draft Tenant Fees Bill will:

More than 9 out of 10 tenants who responded to the government consultation backed the action to ban letting agent fees, with 7 out of 10 of them saying these fees affected their ability to move into a new rented property.

Tags: Expatriates | Mortgages | Law | Fees | Enforcement | Legislation | Penalties | Services | Expats | Immigration | Immigration |

 





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