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fru-gal

Government looking to ban letting agent fees

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Great, thanks.

I really really hope this would happen. F*****g letting agents are charging incredibly high fees. Around my area, Romans or Townends charge between 700 to 1000 for 2 bed flat excluding the deposit while many local small honest EAs charge from 150 to 250 for the similar rented property. But renters have very very little chance to avoid them because they secure nearly all of the flats/houses available in the area.

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Bstrds will just try to raise rents.

The Lettings agents get paid with their annual salary plus commision for the Landlord; They shouldn't be charging stupid fees to tenants for 400 pounds plus. 

Good

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First they came for the BTL landlords, and I did not speak out, for I was not an overleveraged parasite.

Then they came for the Letting Agents, and I did not speak out, for I was too busy savouring the delicious Schadenfreude.

Edited by Dorkins

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26 minutes ago, Tapori said:

Bstrds will just try to raise rents.

Let them try, at least rents are relatively transparent. It has been compulsory for letting agents to put their fees on their website for well over a year now, but this one has not done so:

http://www.gemlettings.com/

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1 hour ago, Dorkins said:

First they came for the BTL landlords, and I did not speak out, for I was not an overleveraged parasite.

Then they came for the Letting Agents, and I did not speak out, for I was too busy savouring the delicious Schadenfreude.

:lol:

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35 minutes ago, Dorkins said:

Let them try, at least rents are relatively transparent. It has been compulsory for letting agents to put their fees on their website for well over a year now, but this one has not done so:

http://www.gemlettings.com/

Yep. Fees are a total scam.

Fck the lot of them.

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1 hour ago, ASBEAR said:

Great, thanks.

I really really hope this would happen. F*****g letting agents are charging incredibly high fees. Around my area, Romans or Townends charge between 700 to 1000 for 2 bed flat excluding the deposit while many local small honest EAs charge from 150 to 250 for the similar rented property. But renters have very very little chance to avoid them because they secure nearly all of the flats/houses available in the area.

Haslams in South East charge half a month's rent (+ possibly credit check fees on top?).  Add 1.5 months deposit and the first outgo becomes at least rent x 3.

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I wrote to my MP about this in Sept, Priced Out ran a campaign. Response was it would result in increased rents. Claimed evidence in Scotland supported this. Blah blah...expect she's up to eyes in btl...need to check.

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1 hour ago, fru-gal said:

Lets hope this is the beginning of the end of the Wild West that is the UK PRS!

http://www.24housing.co.uk/news/government-looking-to-ban-letting-agent-fees/

http://services.parliament.uk/bills/2016-17/rentersrights.html 

There a bill in Lords to ban this and has passed the committee stage. Also there is an early day motion can't remember the number in house of commons. I am sure these agents will pass this cost to LLs and 118ers will simply go " rent is going up" .

BTLers are so thick and their only focus is S24. In the meantime govt has come up string of measures to kill the BTL
1. SDLT
2. PRA rules from 2017.
3. BTL regulated means no more IO loans.
4. Now tenant fees collected by agents(property surgeons).
 By the time they realise the time is up.

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26 minutes ago, hi5lo5 said:

http://services.parliament.uk/bills/2016-17/rentersrights.html 

There a bill in Lords to ban this and has passed the committee stage. Also there is an early day motion can't remember the number in house of commons. I am sure these agents will pass this cost to LLs and 118ers will simply go " rent is going up" .

BTLers are so thick and their only focus is S24. In the meantime govt has come up string of measures to kill the BTL
1. SDLT
2. PRA rules from 2017.
3. BTL regulated means no more IO loans.
4. Now tenant fees collected by agents(property surgeons).
 By the time they realise the time is up.

Yep. The point is that Bills like these rarely get turned into law (too many vested interests ie. MP landlords), however, these Bills create a lot of publicity and often end up being added to an existing Bill or brought in via a different route. This is the Baroness who has been pushing this Bill through the Lords (Baroness Grender) if anyone wants to tweet her encouragement/thanks; https://twitter.com/OllyGrender

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1 hour ago, Wayward said:

I wrote to my MP about this in Sept, Priced Out ran a campaign. Response was it would result in increased rents. Claimed evidence in Scotland supported this. Blah blah...expect she's up to eyes in btl...need to check.

You're not in Wandsworth are you?  I got the same response.

Absolute rubbish, having rented in Scotland since the changes, the system is greatly improved and I didn't notice any increase in rents.

Do I have any choice over the agent I use?  Does the agent work in my interest?   No!  so why the hell should I pay them.  the very fact they've ramped up these fees is because they know the market can't support any further rent rises unless they bring them in by the back door.

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I wrote to the esteemed Dominic Raab MP and got the same response, I expect it's the same as you guys got!

Good afternoon,

 

Thank you for contacting me about letting agent fees. I appreciate your concerns.


The government is committed to promoting a strong and thriving professional rented sector where tenants enjoy decent standards and receive a service that represents value for money.

The government does not believe that a blanket ban or cap on letting agent fees is the answer to tackling the rogue letting agents who exploit their customers by imposing inflated fees for their services. The government is committed to promoting a strong and thriving professional rented sector where tenants enjoy decent standards and receive a service that represents value for money. The evidence from Scotland, where letting agent fees have been banned, suggests the ban has led to higher rents. 

The vast majority of letting agents provide a good service to tenants and landlords, and most fees charged reflect genuine business costs. However, the government has taken action to ensure full transparency of fees. Since 2015, letting agents and property managers have been required to display a full tariff of their fees prominently in their offices and on their websites, with a fine of up to £5,000 if they fail to comply. Such transparency will help to deter double charging by letting agents and enable both tenants and landlords to shop around, encouraging agents to offer competitive fees.


The government is currently reviewing whether to make client money protection mandatory for lettings agents and is committed to a wider review later this year to investigate the effectiveness of transparency measures and will consider whether more action needs to be taken. I hope this provides you with a degree of reassurance. 

 

I am afraid I do not, generally, sign EDM’s as they are expensive to administer and achieve little in practice.


Finally, on Thursday, 27 October 2016 I am holding a public meeting at Holy Trinity Church Hall, Holy Trinity Church, Claygate, KT10 0JP. It will be held from 7:30pm until 9:30pm.

 

The meeting will primarily provide an opportunity for local residents to raise any concerns or issues about Britain’s departure from the EU, following the recent referendum. However, residents are welcome to raise any other local or national issue. I hope you will consider attending.


Thank you again for taking the time to contact me.

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48 minutes ago, Smiley George said:

I wrote to the esteemed Dominic Raab MP and got the same response, I expect it's the same as you guys got!

Good afternoon,

 

 

 

Thank you for contacting me about letting agent fees. I appreciate your concerns.

 


The government is committed to promoting a strong and thriving professional rented sector where tenants enjoy decent standards and receive a service that represents value for money.

The government does not believe that a blanket ban or cap on letting agent fees is the answer to tackling the rogue letting agents who exploit their customers by imposing inflated fees for their services. The government is committed to promoting a strong and thriving professional rented sector where tenants enjoy decent standards and receive a service that represents value for money. The evidence from Scotland, where letting agent fees have been banned, suggests the ban has led to higher rents. 

The vast majority of letting agents provide a good service to tenants and landlords, and most fees charged reflect genuine business costs. However, the government has taken action to ensure full transparency of fees. Since 2015, letting agents and property managers have been required to display a full tariff of their fees prominently in their offices and on their websites, with a fine of up to £5,000 if they fail to comply. Such transparency will help to deter double charging by letting agents and enable both tenants and landlords to shop around, encouraging agents to offer competitive fees.

 


The government is currently reviewing whether to make client money protection mandatory for lettings agents and is committed to a wider review later this year to investigate the effectiveness of transparency measures and will consider whether more action needs to be taken. I hope this provides you with a degree of reassurance. 

 

 

 

I am afraid I do not, generally, sign EDM’s as they are expensive to administer and achieve little in practice.

 


Finally, on Thursday, 27 October 2016 I am holding a public meeting at Holy Trinity Church Hall, Holy Trinity Church, Claygate, KT10 0JP. It will be held from 7:30pm until 9:30pm.

 

 

 

The meeting will primarily provide an opportunity for local residents to raise any concerns or issues about Britain’s departure from the EU, following the recent referendum. However, residents are welcome to raise any other local or national issue. I hope you will consider attending.

 


Thank you again for taking the time to contact me.

Reading that steaming pile of horse poo makes you realise why people have lost faith in the democratic process.

It reads like it's been written by an algorithm rather than a person. 

Rentier Rebuttle Bot defends the rigged market by stating that it's defending a free market.

Orwellian. 

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1 hour ago, Upabove said:

You're not in Wandsworth are you?  I got the same response.

Absolute rubbish, having rented in Scotland since the changes, the system is greatly improved and I didn't notice any increase in rents.

Do I have any choice over the agent I use?  Does the agent work in my interest?   No!  so why the hell should I pay them.  the very fact they've ramped up these fees is because they know the market can't support any further rent rises unless they bring them in by the back door.

I wouldn't rent in Wandsworth! Do you think I'm nuts!

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2 hours ago, Upabove said:

...

Do I have any choice over the agent I use?  Does the agent work in my interest?   No!  so why the hell should I pay them.

...

Exactly. Tenants tend to have little choice over which agency they get a property from.

Making the LL's pay will force competition between agencies - will a LL go for one charging them £500 'tenants fees' or one that charges £300? Also, LL's are in competition with each other so they'll have to decide how much of this extra cost to actually pass on to the tenant.

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Just off to find a mirror, I need to write 'HA' on each of my bumcheeks so tomorrow I can pop into town and rub them on the letting agents' windows while dancing a merry jig.

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3 hours ago, Smiley George said:

I wrote to the esteemed Dominic Raab MP and got the same response, I expect it's the same as you guys got!

Good afternoon,

 

 

 

Thank you for contacting me about letting agent fees. I appreciate your concerns.

 


The government is committed to promoting a strong and thriving professional rented sector where tenants enjoy decent standards and receive a service that represents value for money.

The government does not believe that a blanket ban or cap on letting agent fees is the answer to tackling the rogue letting agents who exploit their customers by imposing inflated fees for their services. The government is committed to promoting a strong and thriving professional rented sector where tenants enjoy decent standards and receive a service that represents value for money. The evidence from Scotland, where letting agent fees have been banned, suggests the ban has led to higher rents. 

The vast majority of letting agents provide a good service to tenants and landlords, and most fees charged reflect genuine business costs. However, the government has taken action to ensure full transparency of fees. Since 2015, letting agents and property managers have been required to display a full tariff of their fees prominently in their offices and on their websites, with a fine of up to £5,000 if they fail to comply. Such transparency will help to deter double charging by letting agents and enable both tenants and landlords to shop around, encouraging agents to offer competitive fees.

 


The government is currently reviewing whether to make client money protection mandatory for lettings agents and is committed to a wider review later this year to investigate the effectiveness of transparency measures and will consider whether more action needs to be taken. I hope this provides you with a degree of reassurance. 

 

 

 

I am afraid I do not, generally, sign EDM’s as they are expensive to administer and achieve little in practice.

 


Finally, on Thursday, 27 October 2016 I am holding a public meeting at Holy Trinity Church Hall, Holy Trinity Church, Claygate, KT10 0JP. It will be held from 7:30pm until 9:30pm.

 

 

 

The meeting will primarily provide an opportunity for local residents to raise any concerns or issues about Britain’s departure from the EU, following the recent referendum. However, residents are welcome to raise any other local or national issue. I hope you will consider attending.

 


Thank you again for taking the time to contact me.

Leave it a month and write almost  the same letter but this time argue the other way round - suggest that letting fees should be reintroduced. Once you get the response put them side by side.

This is a classic tactic used in the Henry Root letters back in the 80s to great satirical effect. 

https://www.amazon.co.uk/gp/aw/reviews/1888173009/ref=cm_cr_dp_mb_see_rcnt?ie=UTF8&s=sd

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7 hours ago, Dorkins said:

Just off to find a mirror, I need to write 'HA' on each of my bumcheeks so tomorrow I can pop into town and rub them on the letting agents' windows while dancing a merry jig.

Best post on HPC ever! Im so happy. I have a really nice landlord schadenfreude story to post soon when I get time as well.

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