Letting Fee Bans To Be Scrutinised

The draft Tenant Fees Bill and aims to deliver ‘a fairer, more competitive, and more affordable lettings market where tenants have greater clarity and control over what they will pay and where the landlord is the primary customer of the letting agent’.  The bill would prohibit all payments to lettings agents and landlords (aside from rent, security deposits, holding deposits and tenant default fees), cap deposits and introduce new civil and criminal offences for breaching the ban. The CLG Committee plans to hold a series of oral evidence sessions in the New Year with experts, tenant, letting agent and landlord associations, and trading standards authorities.  Read more on 24housing.

OFT Recommends Changes in Private Rented Sector

The OFT has published a report which identifies several consumer protection issues in the lettings market.  As part of this report, the OFT analysed nearly 4,000 complaints made by people renting a home as well as those letting out a property. It found that both tenants and landlords were concerned about fees and charges levied by agents, poor service provided and that 'surprise' charges were introduced or 'drip-fed' once contracts have been signed.  The report sets out a number of recommendations for Government, industry, enforcers and others in order to make the market work better for tenants.  Download a copy of the report from the OFT website.