MPs are discussing a law restricting the charging of fees to tenants

The UK government has set out its approach to the issue of paying agents for rental residential property in England in the new bill, which was introduced in Parliament.

Parliamentarians are thus trying to reduce the financial burden on tenants. Of the same character, the bill was already adopted in Scotland and is being prepared for adoption in Wales.

Under the bill, Agency estate in England will be able to take a Deposit from the tenant not more than one week of rent and the security Deposit not more than 6 weeks rent. Also, the draft law describes the procedure for the return of the Deposit to the tenant.

In case of violation of the new rules the bill provides penalties for agencies £5000 for the first violation of this policy and criminal proceedings, which may be substituted with a fine of £30000, if followed by a second violation within 5 years.

Also entitles the tenant to recover from the Agency overcharged fees. Will be amended in the “law on the Protection of Consumer Rights” from 2015 and put forward new requirements to the online property portals such as Rightmove and Zoopla.

The government hopes that these measures will ensure the transparency, accessibility and competition in the private rental sector, to improve the situation of tenants and to prevent agents from charging double fees as landlord and tenant for the same service.

® Maxim Savitsky.02.11.2017

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