Labour seeks to reduce maximum deposit landlords can charge renters

cap on security deposits
Labour party proposes reduction to maximum deposits

The UK Labour party is attempting to introduce a law change that would result in significant reductions to the amount that landlords are allowed to charge tenants as a deposit.

The party wants an amendment to a new law in order to limit the maximum deposit to three weeks’ rent, which equates to an average of £575 for tenants in England.

Under current proposals submitted by the government to Parliament, the maximum deposit that landlords would be able to charge would be limited to six weeks’ rent. Labour, however, claims this would benefit few tenants as the average deposit is already less than five weeks’ rent.

 

Full story available from Independent: https://www.independent.co.uk/news/uk/politics/labour-rent-deposit-landlords-maximum-law-change-housing-jeremy-corbyn-a8386221.html

 

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