The government’s decision to ban letting fees to tenants
is a victory for the country’s 11m renters, and common sense. It has also
enabled the chancellor Philip Hammond to announce what is effectively a
several-hundred-pound giveaway for “just about managing” households that,
conveniently, doesn’t cost the government anything. One in three private
renters move home each year, and upfront fees cost the typical two-adult
household £400 when starting a tenancy. Tenants pick a property based on its
rent and suitability: they have no say over which agent the landlord appoints
to manage the tenancy. As a result agents have a captive market that they can
charge whatever they like. This has resulted in fees for the same basic service
ranging from £40 to nearly £800. Read more on the City Metric website.
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