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TODAY'S OTHER NEWS

Tenants would rather rent cap than ban on fees

Almost 60% of the 500 tenants surveyed by an online letting agent said they would rather rent rises were capped instead of a ban on letting agent fees.

In light of the Private Member's Bill which is aiming to ban fees charged to tenants, Upad conducted a study to see what landlords and tenants think of the proposed measures.

Over 50% of 550 landlords surveyed said they were not aware of the proposed plan to scrap tenant fees. 

Meanwhile, almost a quarter, 23%, said they would consider increasing rent to offset any additional costs incurred if fees were scrapped.

Over 65% of the landlords surveyed said they themselves do not charge any fees, while only 3% said they think it's fair to charge all fees to tenants.

More than 70% of the landlords taking part said they felt a referencing fee is the fairest charge to levy on tenants.

Some 38% of the tenant participants said they don't believe they should be charged any fees, while 40% said they would be content paying either a one-off admin fee or a referencing fee.

The proposals to ban fees charged to tenants – part of the Renters' Rights Bill – are currently making their way through Parliament.

The bill received an unopposed Second Reading in the House of Lords during June, and its next event is the Committee Stage – a date for which is yet to be announced.

It will then need to pass a Report Stage and Third Reading in the House of Lords before moving through the House of Commons. 

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