Tenant Fee ban
The Tenant Fee ban starts from June 1st meaning that agencies can no longer charge administration fees and deposits have been lowered.
In layman terms this means that instead of an administration fee being paid there will now be a Holding Deposit requested, the equivalent of 1 weeks’ rent, that will secure the property subject to full referencing being successful.
This Holding Deposit becomes part of the Tenancy Deposit which is held by the Deposit Protection Service for the duration of the tenancy.
Here at Hoppers the rental market is buoyant and we have a high turn over of successful tenant and property matches.
Concerns that landlords may start looking at private rentals is not a worry for us as we offer both landlord and tenant a secure way to rent properties.