MOVING ON
Queen’s Speech introduces ‘lifetime deposit’ for renters so they don’t have to save up every time they move
RENTERS will be spared from saving up hundreds of pounds for a deposit every time they move under a new bill announced by the Queen today.
The government wants to introduce a so-called lifetime deposit, which would ease the stress of forking over large deposits every time you move.
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The lifetime deposit, which would be part of a Renters' Reform Bill, would allow private renters to transfer their deposit from one property to the next.
Currently, tenants can end up stuck in a loop of not being able to afford to move until they’ve received their deposit back from their current landlord.
Housing charity Shelter says the average weekly private rent is £192, so the average five-week deposit would be a whopping £960.
Formally reopening Parliament today with her Queen’s Speech, the Queen said: “New measures will be brought forward to protect tenants."
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We've asked the government and the Ministry of Housing exactly how the lifetime deposit will work in practice - for example, if there will be a cap and for how long it lasts.
The Sun has also asked whether deposits are protected, and what happens to your deposit after moving out, or if you get evicted.
It comes just months after the long-awaited Tenant Fees Act was finally introduced in July this year, stopping landlords and letting agents from charging rip-off fees and capping deposits at five-weeks' rent.
In addition, the Renters' Reform Bill aims to give more power to private tenants, to protect them from dodgy landlords.
While no further details were unveiled today, the government has previously called for renters to be able to access to a landlords database to help them make better decisions on where to live.
A list of dodgy landlords and property agents was first introduced in April 2018 but at the moment only local authorities can view it.
How to haggle with your landlord and bring down your rent
WHEN you first sign your tenancy agreement with your landlord your rent should be agreed either in writing or verbally.
To increase your rent your landlord must send you a section 13 notice which gives you a month's notice in writing telling you how much your rent will be increased by and the date when your rent will go up.
At this stage you should try to talk to your landlord and come to a fair agreement on how much rent you should pay.
Your landlord can only raise your rent if you agree to the increased price.
Matt Hutchinson, communications director for flatsharing website SpareRoom.com said that if you are a good tenant then you've got bargaining power.
"The first thing to bear in mind is that demand is lower at the moment than over the past couple of years.
"That means you’ve got a bit more bargaining power, especially if you’ve been a good tenant, as your landlord won’t want the expense and hassle of having to find another tenant and even potentially face a period with the property empty.
"Failing that, it’s worth seeing if you can get anything thrown in with a rent increase, such as minor bits of redecorating or any bills."
Landbay have a free rent check service to see how much rent you should be paying in your area.
You can find the rent check service
Find out more about how to haggle with your landlord to bring your rent down here.
Separately, a group of experts had previously called for a tough new watchdog to be set up to crackdown on dodgy estate agents and slap them with fines.
The group was asked to report their findings to the housing minister.
The Bill also includes legislation to save millions of renters from no-fault evictions by scrapping the Section 21 rule of the Housing Act 1988.
At present, renters can be given just eight weeks notice to find a new home if landlords issue a Section 21 notice outside of rental contracts.
Landlords will also be given more rights to gain possession of their property through the courts.
The Renters' Reform Bill must be approved by Parliament before it becomes law.
We've asked the government when this would realistically come into effect and we'll update this article when we get a response.
MORE ON MONEY
A new report recently revealed how over 2million families are busting their budgets to pay rent.
While separate findings show a third of landlords want to sell next year.
It comes as housing costs have almost trebled for the poorest Brits over the past 40 years.
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