Landlords will soon be banned from asking for more than one month’s rent upfront

Share:
Landlords will soon be banned from asking for more than one month’s rent upfront
Author: Eleanor Noyce
Published: Jan, 10 2025 14:35

Moving house can often strike fear into the hearts of renters without thousands of pounds in savings to cover hefty rent and deposit fees, but now, landlords will soon be banned from asking for more than one month’s worth upfront. The Renters’ Rights Bill will now make it illegal to ask tenants to pay more than one month plus a deposit equating to six weeks’ worth of rent – undoubtedly welcome news for those struggling to scramble together copious amounts of money after signing a new tenancy agreement.

 [Smiling woman taking keys from Real Estate Agent in new house]
Image Credit: Metro [Smiling woman taking keys from Real Estate Agent in new house]

In December 2024, figures from Zoopla placed the average UK rent at £1,270 per month for a property with between one and four bedrooms – but naturally, it’s much higher in London, reaching an eye-watering £2,188. And, with Gen Zs and Millennials dubbed ‘Generation Rent’ – in reference to exorbitantly priced, largely inaffordable houses – many of us might not ever own a home without generational wealth, leaving us locked into the cycle of paying landlords thousands of pounds a year.

Image Credit: Metro

That’s when we’re able to even make our rent payments, too, as in 2023, a report from StepChange Debt Charity found that one in six private renters (equating to 1.2 million people) were relying on credit to make ends meet. So, when we’re asked to pay several months’ worth upfront, we could either be rinsing our life savings or actively going into debt.

Image Credit: Metro

‘We’re putting an end to renters being ripped off by outrageous upfront costs that leave them struggling to make ends meet or locked out of housing altogether,’ Deputy Prime Minister and Secretary of State for Housing Angela Rayner told i newspaper.

 [To Let sign at Rockingham estate in south London]
Image Credit: Metro [To Let sign at Rockingham estate in south London]

Share:

More for You

Top Followed