If you’ve rented with an agency before, you’ll know that they’re currently able to charge some pretty hefty fees just for using their services. These fees are usually used to pay for things like cleaning, name changes, admin charges, and the like, but most of the time the actual breakdown is pretty murky. It’s estimated that on average, people can be charged around £337 in tenant fees, sometimes without even knowing what they’re paying for.
Here’s the good part – the fees are being scrapped! That’s right, once the bill comes into effect agencies will no longer be allowed to charge you tenant fees when you rent a property with them. This will dramatically help ease the renting process and increase transparency, especially if you’re new to renting. Now that the bill has been passed in the House of Lords, it will come into effect on Saturday 1 June, which may seem like a while away, but in the long run it’ll save you hundreds of pounds, so it’s definitely worth watching this space.
There have been some concerns that this will result in higher rents since the costs have to be covered somewhere. If you’re currently renting, and your landlord wants to significantly raise your rent, you can always book an appointment at our Advice Centre where we’ll help in any way we can.
Still looking for a place to crash next year? Then Housesearch might be for you. There are plenty of first class properties just for students listed, with landlords we know and trust.
Registered charity no: 1141998
The Students’ Union, Royal Holloway
Egham, TW20 0EX