Have Rents Increased Due to The Tenant Fee Ban?

This month’s report from Arla/Propertymark shows the biggest increase in rents on record. This month 55% of agents reported increases in rent across the board.

David Cox Chief Executive of arla.co.uk had the following to say regarding this months report.

“Unsurprisingly, rent costs hit a record high in June as tenants suffered the impact of the tenant fee ban. Ever since the Government proposed the ban, we warned that tenants would continue to pay the same amount, but the cost would be passed onto tenants through increased rents, rather than upfront costs.

“In addition to the repercussions of the Tenant Fees Act, the proposed abolition of Section 21, coupled with the Mayor of London’s recent call for rent controls, will only cause the sector to shrink further. In turn, this will increase pressure on the sector because it will discourage new landlords from investing in the market, causing rents to rise for tenants as less rental accommodation is available.”

Are you thinking about increasing your rents?

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