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crazypabs

Official tenant fee ban 1jun 19

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this will make a huge diffrence in the value of having btl for the passive landlord especially. lots buy these btls as an investment and do a hands off approach, the estate agent  makes a chunk of its fee from its crooked fees to the tenent. They fees now need to be placed on the landlord To landlords that manage their own properties this wont alter to much. but to those that have full agent service including repair and maintenace this extra cost will be disasterous. 

The fact that these type of landlords are generally older or foriegn or large investors will hit home quite bad, why cling on with prices dropping or stagnating at best for very little return now. best to sell up. this will flood the market in coming months. half these landlords probably last visited the property when they bought them, they are nothing more than stocks and shares and a diversification in their portfolio. when the price drops or the value is not there they run and run first, infact they often get out ok because they beat the rush for the door because they have no emotion tied up in the investment.  

Edited by jimmy2x3

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FML I need to sign up to a rental in April - for work away - and I have seen what agents' fees are. Daylight robbery for doing 10 minutes worth of work. 

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This is excellent news and I'm pleasantly surprised. I thought it was going to be another promise kicked into the long grass. I still despise this current government but I will admit they've done some good (still more to do) in the letting sector.

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6 hours ago, Monkey said:

Comments are a right laugh.... i hope they burn. Such distain for their customers/Tennants

https://www.property118.com/ban-lettings-fees-commence-june-1st/

Quote

Luke P

9:36 AM, 16th January 2019

As an agent, 20 years ago I was merely a middleman collecting rent and passing it on to landlords. Since then, there has been a helluva lot of regulatory change and most of my landlords are completely ignorant to it. The additional costs incurred over the years has been passed to the tenant in the form of an administration fee. This will now have to be directly passed to the owners. They ain't gonna like it, especially as payment for credit checks/references/my time will not necessarily translate into a successful tenancy...there's nothing now to stop down-and-out chancers 'having a go' at trying to secure a rental with no consequence or loss. My time still has to be paid for.

Shocking. Who would do such a thing? To have a go with no consequence or loss, imagine that!

What would be terrible would be for people to view a pwoperty, get all the credit checks (instant charge to landlord) but then not take up a tenancy. That would be awful.

 

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Just now, mrtickle said:

Shocking. Who would do such a thing? To have a go with no consequence or loss, imagine that!

What would be terrible would be for people to view a pwoperty, get all the credit checks (instant charge to landlord) but then not take up a tenancy. That would be awful.

 

It sounds like government have actually thought of that. It seems like it is permitted for landlords / agents to request a holding deposit on the property refundable on successful tenancy application.

So I don't think their moaning is justified.

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1 minute ago, dugsbody said:

It sounds like government have actually thought of that. It seems like it is permitted for landlords / agents to request a holding deposit on the property refundable on successful tenancy application.

So I don't think their moaning is justified.

Fair enough. what about this, though?

Quote

Monty Bodkin

19:57 PM, 16th January 2019

Reply to the comment left by Luke P at 16/01/2019 - 19:43I meant monetarily speaking.
Yes I know, sorry for being pedantic.

It needed clarifying.

Quality landlords will now require bank statements, Experian credit report, family history and last 3 school reports before even giving a potential tenant a viewing.

A *complete* ban on rip-off fees was an understandable knee jerk reaction, but will unfortunately be ******** in practice.

Only complete nutcases would ask for the last 3 school reports. What a sense of entitled ********.

 

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5 minutes ago, mrtickle said:

Fair enough. what about this, though?

Only complete nutcases would ask for the last 3 school reports. What a sense of entitled ********.

 

Well yes, many landlords are idiotic arseholes. Nothing new here.

They'll rage and throw tantrums but in the end they'll just adjust with no big deal. Incredibly selfish individuals who literally believe they're creating houses out of thin air for people to live in rather than buying up houses other owners would have liked to buy.

Edited by dugsbody

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10 hours ago, mrtickle said:

[quoted by mrtickle]

Luke P

..there's nothing now to stop down-and-out chancers 'having a go' at trying to secure a rental with no consequence or loss

 

As both a tenant and landlord (we rent in London for work whilst letting the erstwhile family home to a family of 6) I am shocked to read this.  My dealings with agents (on both sides of the fence) have varied from fairly useless to very good.

Luke, however, sounds a right c**t - even if he has dealt with a succession of dodgy tenants, this statement is outrageous and condescending.
There's a cohort of Agents, Landlords and Owners who honestly seem to think they are superior to "stupid tenants".
Ironically they are themselves too stupid to know how stupid they are.

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3 hours ago, hotblack42 said:

There's a cohort of Agents, Landlords and Owners who honestly seem to think they are superior to "stupid tenants".

You are right, it is disgusting. I know an agent very well and he is shady as anything. I know a of a couple of broken laws by him during the course of his recent business.

I also know some landlords and many are some of the most self-centred, money grubbing, horrible people I have met. No exaggeration. In any sort of reasonable free market these people would go out of business.

I have to say though I also know some landlords who are decent people and do try to be good landlords (and manage to be so).

But you are right, agents and landlords really need to look in the mirror.

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19 hours ago, mrtickle said:

Fair enough. what about this, though?

Only complete nutcases would ask for the last 3 school reports. What a sense of entitled ********.

 

Let’s hope there are enough tenants willing or able to provide all of this. Otherwise that’s a lot of voids they’ll be racking up waiting to find one! :)

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Truckloads of DEBTjunkie two bed hovel fodder pouring onto the market near me now. Looks like this is going to be a bloodbath 

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39 minutes ago, thewig said:

Truckloads of DEBTjunkie two bed hovel fodder pouring onto the market near me now. Looks like this is going to be a bloodbath 

Fantastic! And Brexit means the landlords' wailings will be drowned out in the mass media. We'll see it all of course, blow by blow hopefully.

 

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Though this is welcome, there's still fees chargeable to the tenancy that are requested by the tenant, and while S21 no fault eviction remains legal I can't see why agents wouldn't use this tried and tested tactic to compel tenants to request a tenancy renewal instead of moving onto a statutory periodic tenancy. It's for their security and piece of mind, naturally 😉

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On 16/01/2019 at 21:33, mrtickle said:

Fair enough. what about this, though?

Only complete nutcases would ask for the last 3 school reports. What a sense of entitled ********.

I hope "quality landlords" do start asking for school reports, would be an excellent red flag warning potential tenants that the landlord is insane and they should go elsewhere.

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Hmmm let me think what I’m going to do next... so you’re now telling me I can’t charge for broken smoke alarms directly?  

 

No problem I’ll just bang a smoke alarm premium onto all my lots rents to cover it. Tenner a month should do it eh? BOSH and we’re gravy again 

 

whats that? You can’t afford it? Well boo hoo and here’s your notice to leave, I’ll just chuck another family in there on a cheeky teaser rate, just bang the rents up on em as soon as they’re good and  settled

 

man I love property, think I’m a bit addicted truth be told 

 

 

 

 

 

 

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