Plan to help tenants cut the burden of upfront fees - as some must find thousands to rent a home

By Myra Butterworth for MailOnline

November 15, 2016

• Tenants can spend hundreds on references that do not guarantee property
• Fees add to rent upfront and deposit to deliver bill that can be thousands 
• They cannot 'carry' the references to another letting agent
• A new 'referencing passport' aims to help reduce these costs
• Checks could be transferrable between letting agents

Tenants could reduce the costs of renting a home by hundreds of pounds if a new 'referencing passport' scheme is introduced, it has been claimed.

The costs of renting a home - before a tenant has even stepped over the threshold - can run into thousands of pounds, including a month's rent in advance and paying for a reference.

But a new 'referencing passport' aims to help reduce these costs as the checks could be transferable between letting agents.

Tenants can pay thousands of pounds in fees before they even step foot in a rented home

Some letting agents can charge tenants as much as £500 for the referencing checks to be made.

There is currently no guarantee that the tenant will secure the property once the checks have been made.

It means they may have to pay out again if they lose that property and have to provide a reference for a different rental home.

http://www.dailymail.co.uk/property/article-3913078/Plan-help-tenants-cut-fees-pay-upfront.html