May 12, 2017
A ban on letting agent fees could result in tenants wasting agents’ and landlords’ resources.
The government is being urged to take into account the workloads of landlords and agents when implementing a letting fee ban. The National Landlords Association (NLA) has highlighted that should a ban come into effect, it could result in tenants bidding on multiple properties with a number of different agents. They may also be more likely to provide false information as they are not paying for their own checks. This could put even more strain on agent and landlord resources.
Chris Norris of the NLA said…
“[The ban] takes away any simple means to determine that a tenant is genuinely interested in securing a property and that, above all, there are no red flags next to their name when it comes to their ability to meet the rental commitment”.
A closer look at how landlords may be affected by the proposed letting fees can be found on the Property Industry Eye website.