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Letting fees to be banned from June - MSE News

Former_MSE_Naomi
Posts: 519 Forumite



Landlords and letting agents in England are set to be banned from charging tenants letting fees from 1 June...
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'Letting fees to be banned from June'

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'Letting fees to be banned from June'

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Comments
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This is pretty unfair on landlords if tenants lie on the application form regarding CCJ's
The landlord would need to pay to find out that the tenant was being untruthful and this is only going to come from one source - increased rents
JumbleBumble0 -
This is excellent news! Yes sure landlords 'may' put up their rent but still this is better overall for tenants. If landlords are not happy with the costs then simply change or go private.0
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Jumblebumble wrote: »This is pretty unfair on landlords if tenants lie on the application form regarding CCJ's
The landlord would need to pay to find out that the tenant was being untruthful and this is only going to come from one source - increased rents
JumbleBumble
A refundable holding deposit to reserve the property, capped at one week's rent.
I assume they can use this to refund a landlord if the potential tenant has lied?0 -
Put up the rent to cover the cost, say over 6 to 12 months, and then just make extra profit every month after that.0
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Good
Landlords managed to get by just fine 20 years ago without charging these fees.0 -
NaughtiusMaximus wrote: »Good
Landlords managed to get by just fine 20 years ago without charging these fees.
It is the agents who charge the fees, they also charge landlords fees. This will mean that EA`s need more income from house sales, expect a lot of downward pressure on price expectations.0 -
Crashy_Time wrote: »It is the agents who charge the fees, they also charge landlords fees. This will mean that EA`s need more income from house sales, expect a lot of downward pressure on price expectations.
I rented a couple of flats via agents in the 90s, neither of them charged a fee to me as the tenant.0 -
NaughtiusMaximus wrote: »I rented a couple of flats via agents in the 90s, neither of them charged a fee to me as the tenant.
They took a % of the rent from the landlord. However you said that landlords didn`t charge these fees, not agents. I have never encountered a landlord charging fees for anything, but plenty of agents charge for every little letter and check.0 -
martinlewisjunior wrote: »This is excellent news! Yes sure landlords 'may' put up their rent but still this is better overall for tenants. If landlords are not happy with the costs then simply change or go private.
I take it you do not exist in an environment where you lose money because other people tell porkies.
Back in the real world it may well actually not be good news for tenants at all because it may well increase the number of letting agents who cannot operate profitably and leave the business therefore only leaving the dishonest who will not return the refundable deposits but go bust ect.
JumbleBumble0 -
Jumblebumble wrote: »I take it you do not exist in an environment where you lose money because other people tell porkies.
Back in the real world it may well actually not be good news for tenants at all because it may well increase the number of letting agents who cannot operate profitably and leave the business therefore only leaving the dishonest who will not return the refundable deposits but go bust ect.
JumbleBumble
It makes more sense to encourage house sellers to drop their price, get more sales going, and maybe try to get a bigger fee for those sales (if every agent in your town has lost the ability to skim money from renters and they all tell you your house isn`t worth what you want for it, what are you going to do?)0
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