Landlords should be reviewing the services offered by their current agents in light of the changing legislation, says the director of a specialist letting agency, who has seen legislation drive an increase in landlords.
The Tenant Fees Act becomes law on 1st June 2019 and will apply to all assured shorthold tenancies agreed from this date. But what does this mean for your existing tenancy agreements?
Purchasing another agency is a complicated process, but can help you achieve growth much quicker if managed well, says a Joint Venture partner at a student accommodation provider that's expanded nationwide.
Estate and letting agents must comply with consumer protection law when dealing with landlords and tenants, which includes disclosing all the fees they charge landlords, all the costs associated with letting a property for tenants, as well as any commissions from referrals.
David Cox provides detailed answers to questions from letting agents from around the country about the Tenant Fee Ban.
The ARLA CEO has reiterated the severe penalties that letting agents will face if they are found to have breached the new legislation from 1st June.
This morning we hosted the third in a series of webinars with ARLA CEO David Cox, focusing on the impact of the Tenant Fee Ban.
“You need to be able to adapt very quickly to changing market conditions,” says one lettings director, whose agency is exploring new avenues to help them overcome the Tenant Fee Ban.
The ban on tenant fees, coupled with the popularity of deposit replacement schemes, means it could cost renters much less to move home when the Tenant Fees Act comes into effect, and potentially increase the demand for lettings.
Letting agents need to ensure they have a thorough knowledge of legislation in order to provide landlords and tenants with correct and comprehensive advice.