PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Letting fees to be banned from June - MSE News

Landlords and letting agents in England are set to be banned from charging tenants letting fees from 1 June...
Read the full story:
'Letting fees to be banned from June'
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.
«13456711

Comments

  • Jumblebumble
    Jumblebumble Posts: 1,933 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    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
  • 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.
  • 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?
  • mjm3346
    mjm3346 Posts: 47,126 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Put up the rent to cover the cost, say over 6 to 12 months, and then just make extra profit every month after that.
  • Good

    Landlords managed to get by just fine 20 years ago without charging these fees.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    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. :)
  • 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.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    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.
  • Jumblebumble
    Jumblebumble Posts: 1,933 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    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.
    JumbleBumble
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    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?)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.2K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.8K Work, Benefits & Business
  • 617.1K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.