tenant fees act 2019The UK Government has introduced the Tenant Fees Act with effect from the 1 June 2019 in response to pressure to relieve the upfront costs on tenants in the UK property market.

The new Act bans landlords and letting agents from imposing unfair letting fees and caps tenancy deposits at five weeks’ rent.

The Government feels that the impact of will be a saving of £240 million across all tenets in the UK and with the additional benefit of increase competition in the market between landlords and letting agents that should reflect again in savings for tenants.

 

 

Regulatory Update- Tenant Act Bans Unfair Letting Fees
 
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