Renting in Scarborough will become cheaper from Saturday, this is why
Tenants in Scarborough and the rest of England will soon be able to pay less when renting a property.
That's because from June 1 tenant letting fees across the private rented sector will be banned.
The new legislation, known as Tenant Fees Act 2019, is aimed at reducing the costs faced by tenants and "rebalancing the relationship between tenants and landlords to deliver a fairer, good quality and more affordable private rented sector".
It effectively means that admin fees previously charged to set up or renew a tenancy for homes will no longer apply.
Philip Hay, Head of Lettings of Ellis Hay on Aberdeen Walk predicts that this will positively affect the rental market.
He said: “The fee ban should ‘level the playing field’ between private landlords, who usually don’t charge fees, and agents. This means in the coming months, there should be a bigger pool of available properties for tenants to consider."
Mr Hay added: “With correct and proper advice on this and future changes in legislation from letting agents, landlords should not have anything to fear. Unlike some of the national chains and city agencies we have always charged a fair amount for application fees so this does not come as too much of a loss; we will be able to carry on offering the same level of service without passing on excessive costs to the landlord.”
Fees exempt from the ban include and are not limited to rent, a refundable holding deposit capped at one weeks' rent and charges for defaulting on the contract.