Get the biggest daily news stories by email Subscribe Thank you for subscribing We have more newsletters Show me See our privacy notice Could not subscribe, try again later Invalid EmailThe tenant fee ban will save UK renters £192 million a year, new analysis has found. Researchers scouring government data found there are some 860,000 rental transactions a year across the UK, with the average tenant is being charged £223 in fees alone. But under new laws set out in the Tenant Fee Act 2019 landlords and letting agents will not be permitted to charge exorbitant, arbitrary fees – saving Brits a massive £191,780,000 a year. A recent study by ARLA showed that 70 per cent of letting agents surveyed were looking to increase their costs towards landlords as a result of the Tenant Fee ban. “As other agents go down that route, we are passing real savings onto our customers across the UK.”

Source: Daily Mirror June 10, 2019 18:45 UTC