The Renters Rights Bill - Strict controls on rent bidding and offers during marketing a property
The Renters Rights Bill with prohibit Landlords and Agents from asking or accepting offers above the published rental price.
The Renters Rights Bill with prohibit Landlords and Agents from asking or accepting offers above the published rental price. What do we know?
When a property is in demand, tenants – sometimes encouraged by agents and landlords – will often start outbidding each other to secure the tenancy. As well as pushing up rents, this means those who simply can’t afford to pay more than the advertised price may keep missing out on properties, even though they might make an excellent long-term tenant.
Once fully implemented, the Renters’ Rights Bill will require landlords and letting agents to legally publish an asking rent for their property and banned from asking for, encouraging, or accepting any bids above this price.