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The average rental deposit has fallen 10.3% since the ban on tenant fees was introduced.
In June 2019, new regulation was put in place to protect tenants, banning letting fees and exuberant rental deposits.
The Hamilton Fraser’s deposit replacement scheme Ome looked at the average cost of a rental deposit in the six months prior to the introduction of the fee ban and how it compared in the six months following and the research.
The study found that the average tenant in England was paying £1,098 for a rental deposit in the six months prior to the tenant fee ban.
