New tenant fees law could cost landlords up to £83m

The new Tenant Fees Act, which bans excessive fees and caps the deposit tenants can be charged, could cost landlords up to £83m a year and lettings agencies £157m, says the government.

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The new tenant fees law could cost letting agents up to £157m in its first year
(Image credit: 2019 Getty Images)

TheTenant Fees Act, a ban on letting fees and excess tenancy charges in England which has been looming over landlords for a few years now, finally came into force on Saturday. And the government estimates that in its first year it could cost landlords up to £83m and letting agents £157m.

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Sarah is MoneyWeek's investment editor. She graduated from the University of Southampton with a BA in English and History, before going on to complete a graduate diploma in law at the College of Law in Guildford. She joined MoneyWeek in 2014 and writes on funds, personal finance, pensions and property.