The highly-anticipated Tenant Fees Act, which will save renters across England an expected £240 million a year, came into force on 1 June.
Unexpected fees and high deposits can make properties harder for people to afford and are often not clearly explained upfront – leaving many prospective tenants unaware of the true costs of renting a property. Under the new law, tenants will be protected from unfair letting fees with most seeing tenancy deposits capped at five weeks’ rent.