Letting fees to be banned from June - MSE News

System

Crashy_Time wrote: »

It is still a stretch to believe though that if all or most landlords want "squeaky clean" credit that there will be enough tenants to go round, especially with the realisation that we are going to end up doing a WTO Brexit creeping into most mainstream media?

There are already plenty of tenants to go round if anything more tenants that houses. So instead of landlords taking a view they will just go for the absolutes best, the extra week or two wont make a huge amount of difference to many landlords.


I just cant see how Brexit has anything to do with it, time to change the tune its getting boring.

Crashy_Time

need_an_answer wrote: »

If you offer a quality product then you can attract a quality tenant...nothing to do with Brexit or any of the other sources you tend to frequently quote.

What you are saying is that you believe that you offer a quality product and that Brexit won`t affect your business. What has that got to do with a general discussion about letting fees and the wider BTL market where landlords just tend to offer basic accommodation?

Crashy_Time

Simonr66 wrote: »

There are already plenty of tenants to go round if anything more tenants that houses. So instead of landlords taking a view they will just go for the absolutes best, the extra week or two wont make a huge amount of difference to many landlords.


I just cant see how Brexit has anything to do with it, time to change the tune its getting boring.

At one simple level Brexit could lower the numbers coming here to live, and there may be more regulation around renting to EU nationals regarding right to be here etc. At another level if the Tory party are to have any hope of avoiding complete decimation at the next GE they will need a Brexiteer leader and probably a Hard Brexit strategy, all things a landlord should be thinking about if they take their investment/business seriously IMO.

byjimini

Are we able to claim back any letting fees? Moved in 3 weeks ago and had to pay £300 fees and £180 non-refundable deposit to hold the property.

tom9980

byjimini wrote: »

Are we able to claim back any letting fees? Moved in 3 weeks ago and had to pay £300 fees and £180 non-refundable deposit to hold the property.

no they were legal then.

itwasntme001

Does some of the deposit have to be paid back to tenants so that the landlord holds only 5 weeks? Or is it only new or renewed tenancies starting from today?

tom9980

itwasntme001 wrote: »

Does some of the deposit have to be paid back to tenants so that the landlord holds only 5 weeks? Or is it only new or renewed tenancies starting from today?

No refund required.

itwasntme001

tom9980 wrote: »

No refund required.

Good to hear. i think i will just up rents when it comes time to renew to compensate for lack of deposit.

Weaselmoose

If a tenant paid the agency fees for holding a property before 1st June, however has not yet signed a tenancy agreement and is currently being asked for the deposit and first month’s rent, is it possible to recoup the agency fees / put these towards the deposit and first month’s rent as there has been no signed agreement before the law change ?

Thanks!

tom9980

Weaselmoose wrote: »

If a tenant paid the agency fees for holding a property before 1st June, however has not yet signed a tenancy agreement and is currently being asked for the deposit and first month’s rent, is it possible to recoup the agency fees / put these towards the deposit and first month’s rent as there has been no signed agreement before the law change ?

Thanks!

I don't think it is entirely clear so far but i suspect a few court cases will sort it out in the tenants favour.