{"id":16478,"date":"2018-05-04T16:15:37","date_gmt":"2018-05-04T15:15:37","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=16478"},"modified":"2023-10-09T14:58:18","modified_gmt":"2023-10-09T13:58:18","slug":"tenant-fees-bill-has-been-published-heres-what-it-means-for-landlords","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/05\/04\/tenant-fees-bill-has-been-published-heres-what-it-means-for-landlords\/","title":{"rendered":"Tenant Fees Bill has been published – here’s what it means for landlords"},"content":{"rendered":"

This week, the Tenant Fees Bill was introduced to Parliament with recommendations on how the government will ban letting fees charged by agents to tenants from next year.<\/strong><\/p>\n

The new Bill, which was first discussed in the Autumn Budget in 2016, sets out to try and reduce the costs<\/a> for tenants renting private properties in the UK by removing letting agency<\/a> fees, as well as capping tenancy deposits and making the whole process more transparent.<\/p>\n

The recommended changes have now been published by the new Secretary of State for Housing<\/a>, Communities and Local Government, James Brokenshire, who was appointed this week after Sajid Javid stepped up to become Home Secretary after Amber Rudd’s resignation.<\/p>\n

While the move is expected to save tenants<\/a> around \u00a3240m a year once it comes into play, the government has revealed that it will cost letting agents around \u00a3157.1m in the first year – while the knock-on cost to landlords<\/a> could be \u00a382.9m.<\/p>\n

Brokenshire commented: “This government is determined to build a housing market<\/a> fit for the future. Tenants across the country should not be stung by unexpected costs<\/a>. That\u2019s why we\u2019re delivering our promise to ban letting fees.”<\/p>\n

Key measures: what you need to know<\/h4>\n

The measures set out in the new Tenant Fees Bill, according to the government’s website<\/a>, include:<\/p>\n