The Chancellor of the Exchequer announced on the 23rd November 2016 that letting agent’s fees for tenants in England would be banned. Details of the proposed legislation are yet to be announced but the Department for Communities and Local Government are consulting ahead of legislation being put before Parliament.
The Association of Residential Letting Agents CEO, David Cox, said:
“A ban on letting agent fees is a draconian measure, and will have a profoundly negative impact on the rental market. It will be the fourth assault on the sector in just over a year, and do little to help cash poor renters save enough to get on the housing ladder. This decision is a crowd‑pleaser, which will not help renters in the long-term. All of the implications need to be taken into account”.
Robinson & Hall’s lettings department hold ARLA accreditation and will be following the consultation and subsequent legislation with interest. Once the details of any legislation have been published further updates will be provided.
With the potential ban on tenant’s fees there has been many commentators warning that the cost of referencing tenants and administering new leases will be passed on to landlords causing an increase in management fees.
Robinson & Hall provide an efficient, thorough and cost effective letting service and a full management service and have no plans to increase the letting fees for landlords.
For further information on the range of services our lettings department provide, or for a free lettings appraisal to find out how much your property is worth, please call Kellie Marsh.
Call or email Kellie Marsh on
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