News

Lettings fees to tenants to be banned

8th September 2017

With the ban coming on top of the considerable extra compliance burden that a letting agent must take on,  the agent will be faced with the unenviable choice between working for less, charging more to the landlord or seeking another industry in which to practice.

It is generally accepted that the burden of administration cost will be shifted  more  to the landlord in terms of a higher admin charge, which will in turn result in higher rents to the tenant if the market will withstand this.

This will possibly result in some unhappy chats between agents and landlords, but I do believe that quality service comes with a cost as being well as valuable commodity and this idea will hold sway. 

If it does result in tenants having a higher budget for rent with their administration charge burden removed then it may be that everyone wins.

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