UK Business

Successful caps on English letting agents’ fees disprove the idea that it’s unwise to meddle with free markets

Written by Jan David Bakker, Assistant Professor of Economics, Bocconi University

Five years ago, the UK government enacted the first legislation regulating prices in the English rental market since the 1960s. The Tenant Fees Act 2019 didn’t interfere with what landlords can charge tenants in rent, but targeted lettings agents instead.

Lettings agents are ubiquitous on British high streets. They provide services such as...

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