As many of you are aware the government are planning to ban tenant fees from next year. These are the charges tenants have to pay at the start, during and at the end of the tenancy. These can include:
Charging for a guarantor form
Having the property deflead as a condition of allowing pets in the property
Requirements to have specific insurance providers
This is by no means a comprehensive list.
Many letting agents earn a significant part of their income from these fees and will need to make up the loss by increasing how much they charge the landlords. What’s more there is talk of placing caps on rent increases which will further hamper landlords from recouping these costs.
At Heritage we earn very little from our tenant fees and are not planning to increase the standard fees we charge landlords at all. We offer a professional letting and property management service and are able to find tenants for all properties large or small.
We welcome the opportunity to discuss this matter and answer any questions you may have.
Andy McManus – Director.