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Immediate cap on fees charged by letting agents

The rental market is open to abuse by letting agents who can name their price; there is no correlation between the costs they incur and the fees charged. It's a free for all, with fees for the same processes widely differing for no apparent reason but to put more money in the pocket of the agent.

Do these examples seem fair?

Print & sign tenancy contract: £120
What does it really cost to print a document?

Credit check: £100
Credit checks typically cost less than £30

Moving in fee covering background & credit check: £395
That's £395 BEFORE you've even paid your rent & deposit. And if you 'fail' you lose your money.

We're not proposing scrapping the fees, after all the agents do incur costs. But a cap would give clarity for all, and prevent profiteering hitting renters in the pocket.

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Signatories

7

Currently ranked 1,235 out of 1,688 open petitions, and 30,265 out of 103,913 petitions ever created.

Status

Open

Created By

Stephen Hall

Created On

Tuesday 12 June 2018

Closing Date

Wednesday 12 December 2018

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