Government announces ban on letting agent fees

[Nicholas Wallwork]

While discussing details of his budget the Chancellor of the Exchequer made a point of highlighting changes in the letting agents system in the UK. In the future letting agent fees for tenants will be banned which has obviously gone down well with those looking to rent property. If you check any letting agent website

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[Longterminvestor]

This whole situation seems to have stemmed from concerns that some letting agents were double charging for the same services, i.e. charging tenants and landlords. So, why not just target the letting agents who do “double charge” leaving others to carry on their business as usual?

 

[PostBrexitInvestor]

This has been in effect in Scotland since 2012 with limited impact on the overall rental market. I would be interested to see how costs are shifted between landlords, letting agents and tenants.

 

[Eugene Apak]

Could anyone tell me when this proposed change to the law will come into effect?

 

[nmb]

The devil is always in the detail with regards to government policies. The ban on letting fees has been put out to “consultation” which means it will probably be water down, delayed or may even never hit the statute books.