July 11, 2019
How might the recently introduced letting fees ban affect you?
There has been a lot of media coverage lately in regards to the tenant fee ban imposed by the government on 1st June 2019. The ban prevents landlords and letting agents from charging fees to tenants for referencing, tenancy renewals, inventories, check-ins, check-outs and many more.
This has created a great storm within the lettings industry, mainly because some letting agents relied heavily on charging these often extortionate fees as an easy main source of income. This often meant taking advantage of tenants and prospective tenants who had no choice but to pay up. It has left these types of businesses in a very precarious situation and their landlord and tenant customers should be taking steps to ensure that any funds the agents hold are protected by a valid Client Money Protection insurance policy, in case the worst happens and the agent becomes insolvent as a result. This is a very real possibility.
Another consideration for landlord customers is whether they will continue to receive the same level of service from their agent now that the funds may no longer be there to support it. For instance, will prospective tenants still be referenced to the same standard now that tenants no longer have to pay for it?
Luckily customers of Simon Blyth Lettings do not have to worry about any of these issues.
We have always charged a fair rate for our services to all of our customers. Having never treated our customers unfairly or charged excessive fees. We have known of the impending fee ban for a long time and have carefully structured our approach over the last several years to ensure we continue to provide the same high standards of service that all of our customers have come to expect of us. Rest assured it is business as usual at Simon Blyth Lettings!
If you are a landlord and are concerned that the service you are receiving elsewhere is starting to decline, why not give us a call and find out how your local and long-established property professionals can get you back on the right track?