Training for Professionals News

  • Sep 12/2016

    Letting Agent Fees

    This topic has been in the media spotlight over the last 12 months and will only intensify as politicians return after the summer break.  A private members bill is currently working its way through Parliament with one of the aims being to 'outlaw' letting agent fees from being charged to tenants. Although such a bill is unlikely to succeed, given the current political composition in Parliament, letting agents need to be aware that at some stage it may happen if a deal needs to be struck on other legislation which the Government is struggling to push through because of backbench rebels.   From limited research amongst some of our clients, tenant fees accounted for around 25% of the annual income, which if restricted could be the difference between surviving and closing shop.

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