The government will today introduce a draft bill to parliament to ban letting agents from charging high introductory fees to tenants across England. The bill comes as part of a reform of the private rental sector and was initially proposed in last November’s Autumn Statement.
The government’s goal in banning such fees is to reduce the high upfront charges imposed on renters as well as double charging landlords and renters for the same service, with seven out of ten people believing that letting fees affect their ability to rent a property.
The bill also suggests that deposits be capped at six weeks as well as strict rules will be implemented on the length of time that deposits can be held after moving out.
eMoov CEO, Russell Quirk, sees the ban as a positive move but one that hopefully won’t be bypassed by savvy letting agents who may have had their nose put out of joint.