Tenant Fees to be Scrapped Next Year ?

Tenant Fees to be Scrapped Next Year ?

Tenant Fees to be banned !

Tenant Fees to be Scrapped Next Year ?

Phillip Hammond has delivered his first Autumn Statement as the Chancellor and one of the first measures he announced was a ban on ‘up front’ letting agent fees.  

Letting fees are already banned in Scotland, where agents say rents have subsequently risen and Richard Price, Director of the National Landlord’s Association, has warned the 'arbitrary' ban on up-front fees was 'a quick fix'.  

He said: 'A ban on agent fees may prevent tenants from receiving a bill at the start of the tenancy, but the unavoidable outcome will be an increase in the proportion of costs which will be met by landlords, which in turn will be passed on to tenants through higher rents.'  

Maher Ross are already considering the significant implication of this change for landlords.  Graham Jolliffe, Director of Maher Ross said “Fortunately, Maher Ross landlords are far more insulated against these changes than with many other agencies.  We’ve expected this move and our tenant charges have always been very reasonable; indeed we’ve never charged any of our tenants recurring fees”. 

 Chris Maher said “We believe in building long-term relationships with our landlords and we will keep the costs of any increases that may be required to the absolute minimum for the benefit of all of our customers”.