Renters trying to find a new home have increasingly been asked to offer more than the advertised rent to secure a tenancy. This prompts what are sometimes called bidding wars.

Many renters will set a budget and only view homes that are listed below the maximum rent they can afford. Being asked to pay more effectively means they can’t afford the home they’ve just taken time out of their day to view. The practice results in letting agents charging higher rents, and wastes renters’ time.

The Labour government has pledged to ban these bidding wars, as part of the Renters’ Rights Bill. The Bill is not yet law, so it is still legal for letting agents to pit renters against each other in this way.

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