Rents are rising as fees ban approaches

first_imgHome » News » Housing Market » Rents are rising as fees ban approaches previous nextHousing MarketRents are rising as fees ban approachesFigures just released by HomeLet, say average rents are rising in the UK – up 2% year-on-year, as pressure builds from the Tenant Fee Ban.The Negotiator10th May 20191 Comment1,922 Views Rents are on a rising trend in almost every part of the UK, as the Tenant Fees Act comes into effect. Charging fees to tenants will be banned for new business, from June.The research comes from HomeLet, the UK’s biggest provider of references in their monthly HomeLet Rental Index and reflects new tenancies.It is widely thought that the ultimate effect of the Tenant Fees Act, will be to put pressure on rents, pushing them upwards still further, as letting agents seek to replace the loss of revenues from management fees charged to tenants.The main points of the release of the new figures are:• The average rent in the UK is now £936, up by 2.0% on the same time last year• When London is excluded, the average rent in the UK is now £775; this is up by 1.8% on last year• Average rents in London are now £1,617, up by 1.8% on last year• The region with the largest year-on-year increase is the South East, showing a 3.2% increase between March 2018 and March 2019• Of the 12 regions monitored by HomeLet, all showed an annual increase in rental values except the North East, which showed a decrease of 1.1%.Homelet.co.ukHomeLet Rental Index HomeLet rents in the uk average rent UK rising rents tenant fees act 2019 tenant fees ban May 10, 2019Grant LeonardOne commentJulian Blackmore, BNE BNE 10th May 2019 at 1:29 pmThis will only be a surprise to the useless government; but no agent or landlord. SO much for listening to consultees. The big rises are yet to come…….. and that’s on top of a total ban on pets by many agents (no deposit allowed).Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more