In his first autumn statement the chancellor, Philip Hammond, announced that the government will impose a ban to stop letting agents charging “rip-off” fees that cost renters up to £380 million a year.
These fees often cover basic administration, references and credit checks. Tenants have reported being charged for everything from renewing their contracts to changing a name halfway through their term of residence. There are also fees for mid-term inspections and inventory checks.
Hammond’s announcement comes after Citizens Advice reported fees have surged to an average of £337 per tenancy. It’s thought agents are taking advantage of the housing crisis to squeeze extra money out of desperate renters.
What do you think of the chancellor’s plans? Will they help those who rent? Have you been caught out by large letting fees in the past? Have you been shocked by letting agents withholding your deposit, or imposing charges for apparently small matters or nonexistent reasons? And do you worry about rents rising as a result of these changes? What other issuesaround renting need to be addressed? What’s it like to rent in Britain today? Share your stories with us.
