Letting agent fee ban
The draft Bill to ban letting agents’ fees levied on tenants has been published today – it’s to be called the Tenants’ Fees Bill.
A statement from the Department for Communities and Local Government this morning says the Bill will help millions of renters.
Communities Secretary Sajid Javid says: “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.”
Under the proposed legislation tenants can be asked to pay only their rent and a deposit; this will also limit holding deposits to no more than one week’s rent, and security deposits at no more than the equivalent of six weeks’ rent.
There will be fines of up to £5,000 for agents breaking the law and if there are two or more contraventions of the law within five years, fines can extend up to £30,000 or criminal prosecution.