It is now becoming increasingly likely for this law to be passed. This will mean an introduction of a cap on the refundable security deposit requested from any prospective tenant.
The upfront fees currently make it difficult for prospective tenants to afford and the government want to make this fairer and more achievable.
Once this Bill is passed, rogue agents and landlords will face penalties and it will also be classed as a civil offence.
Fines will include a £5,000 penalty for first time breaches and their actions will be classed as a criminal offence and will be faced with an unlimited fine and should an agent or landlord commit a further breach in the next five years.
If an agent or landlord commits a further breach in the next five years, their actions will classed as a criminal offence, and they will be faced with an unlimited fine as well as a banning order offence under the Housing and Planning Act 2016.