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Evening Standard
Evening Standard
National

Estate agents in pricey London borough warned not to encourage rental bidding wars

Acorn London Southwark Southwark Council
Members of ACORN Southwark with Labour councillors at Southwark Council’s Tooley Street headquarters - (ACORN Southwark)

A South London borough with some of the highest rents in England has called on estate agents to stop pitting tenants against each other in bidding wars for rental properties.

Southwark Council has pledged to write to letting agents in the area that have not agreed to end the ‘exploitative’ practice, which sees prospective renters encouraged to offer more than the advertised price of a property in order to secure a home.

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