Great news for home renters in the UK, following the confirmation of a ban on letting agents fees to be introduced by the UK Government in the next Parliamentary Session.
Letting agents fees have been in the spotlight for some time, with a recent investigation by the Guardian newspaper showing that average fees for new tenants were around £400 - and as high as £800 - and tenancy renewals costing an average of £117.
This is good news for assignees moving to the UK as well as UK renters. While relocation companies such as Bloom Mobility try to work with corporate lettings departments to eliminate or minimise fees, this is not always possible, especially outside of London and the Home Counties.
"The speech says that the Government hopes that by increasing competition in the private rental sector it will result in lower overall costs and a higher quality of service for renters. The new law will ban landlords and agents from requiring tenants to pay letting fees as a condition of their tenancy. It will also include ways for tenants to recover unlawfully charged fees. Letting fees are already banned in Scotland."