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Almost Half of Tenants in The UK Are Paying Around £300 in Fees Alone

On top of having to save for a typical rental deposit of £840, plus stumping up the first month's rent, 43% of renters are also having to pay, on average, £298 each in fees to letting agents and landlords, according to a survey of more than 4,000 flat and house sharers by SpareRoom.co.uk.

The firm says that tenants are now looking at upfront costs of £1,700 each time they move, including their refundable deposits. It explains why the vast majority, almost nine in 10 (87%) tenants, would rather deal directly with landlords - who typically charge lower fees than letting agents, or none at all.

The most common fees are for 'admin costs'. Two thirds (66%) of those who paid fees when moving into their current home were forced to cover the administration costs. And, of those who paid fees, half (50%) said they had to pay to reserve a room or property once they decided to take it, while almost half (47%) said they were charged for drawing up tenancy agreements and/or inventories.

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