Tenant fee ban to save renters £192m a year, study finds

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The tenant fee ban could save UK renters £192m a year, according to new analysis. 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 renters £191,780,000 each year. “The ban on tenant fees is undoubtedly a step in the right direction as we now have a clear piece of legislation that letting agents, landlords and tenants can all adhere to with a good level of accountability when this isn’t the case. “Hopefully it will act as a catalyst for the sector to stand up and show it can provide a good service for a reasonable fee, and that letting agents still hold some value in a world where technology and innovation will undoubtedly render them obsolete.” A recent study by ARLA Propertymark, formerly the Association of Residential Letting Agents, showed that 70 percent of letting agents surveyed were looking to increase their costs towards landlords as a result of the Tenant Fee ban.