Housing minister hails new letting law protection for tenants
The housing minister has heralded a new law that aims to protect tenants from unfair letting fees.
According to James Brokenshire MP ‘tenants across the country should not be stung by unexpected costs from agents or landlords’ – which the Tenant Fee Act addresses.
From June this year, tenants will see their deposits capped at five weeks’ rent and will apparently be protected from ‘costly fees imposed by landlords or agents’.
The government reckons the new law will save English tenants ‘at least £240 million a year’. Read the press release if you don’t believe me.
The act also addresses tenants being charged ridiculous sums for damaged items such as cheap smoke alarms. From June, landlords will only be able to claim ‘reasonably incurred costs from tenants and must provide evidence of these costs before they can impose any charges’.
And there’s more: the new law also insists that tenants that have been charged unfair fees get their money back ‘quickly by reducing the timeframe during which landlords and agents must pay back any fees that they have unlawfully charged’.
MP Brokenshire added: ‘This act not only delivers on our promise to ban letting fees but also caps deposits at five weeks’ rent and sets out how and when landlords can charge tenants fees – helping renters keep more of their hard-earned cash.
‘This is part of our ongoing action to make renting fairer and more transparent and make a housing market that works for everyone.’
So, let’s wait and see how this all works out.