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Lettings agents are charging £800 in fees ahead of an upcoming ban

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Lettings agents are charging £800 in fees ahead of an upcoming ban

A letting agent sign displaying 'rent me today' outside flats in north London. PRESS ASSOCIATION Photo. Picture date: Saturday August 6, 2016. Photo credit should read:

Yui Mok/PA Wire

A letting agent sign displaying ‘rent me today’ outside flats in north London.

LONDON — UK lettings agents are charging households an average of around £800 in fees when they rent a new home, a report from campaigning group Generation Rent claims.

Generation Rent — which campaigns for “professionally managed, secure, decent and affordable private rented homes in sustainable communities — says in its report that the typical two-adult household can expect to pay fees of as much as £813 when moving into a new place to live.

“No one moves house for fun, and letting fees make an already stressful situation worse. Landlords appoint their agents, so should be paying their costs – landlords can also shop around for the best deal more easily than tenants can,” Dan Wilson Craw, Generation Rent’s director said in a statement alongside the research.

“As the sheer range of fees being charged demonstrates, some letting agents are squeezing as much from tenants as they can.”

The findings, which were released on Thursday, came just one day before the end of a consultation on plans put forward by Chancellor Philip Hammond in last year’s Autumn Statement that would see such fees banned.

Letting agents currently charge tenants fees for things like reference and credit checks, or immigration checks. Under the new system, landlords will pay these fees, which could create more competition in the market by encouraging them to shop around.

“Our main findings are that the government’s proposals will save the average tenants £404 when they move, and an average £117 every 6 or 12 months to renew the tenancy,” a Generation Rent statement said.

While the plans have gained support, many in the property industry argue that the ban on fees will, in fact, lead to higher rents for tenants, as landlords pass on the cost of meeting the fees.

NOW WATCH: Trump is reportedly selling his Caribbean estate for $28 million — take a look inside

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Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

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A letting agent sign displaying 'rent me today' outside flats in north London. PRESS ASSOCIATION Photo. Picture date: Saturday August 6, 2016. Photo credit should read:

Yui Mok/PA Wire

A letting agent sign displaying ‘rent me today’ outside flats in north London.

LONDON — UK lettings agents are charging households an average of around £800 in fees when they rent a new home, a report from campaigning group Generation Rent claims.

Generation Rent — which campaigns for “professionally managed, secure, decent and affordable private rented homes in sustainable communities — says in its report that the typical two-adult household can expect to pay fees of as much as £813 when moving into a new place to live.

“No one moves house for fun, and letting fees make an already stressful situation worse. Landlords appoint their agents, so should be paying their costs – landlords can also shop around for the best deal more easily than tenants can,” Dan Wilson Craw, Generation Rent’s director said in a statement alongside the research.

“As the sheer range of fees being charged demonstrates, some letting agents are squeezing as much from tenants as they can.”

The findings, which were released on Thursday, came just one day before the end of a consultation on plans put forward by Chancellor Philip Hammond in last year’s Autumn Statement that would see such fees banned.

Letting agents currently charge tenants fees for things like reference and credit checks, or immigration checks. Under the new system, landlords will pay these fees, which could create more competition in the market by encouraging them to shop around.

“Our main findings are that the government’s proposals will save the average tenants £404 when they move, and an

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average £117 every 6 or 12 months to renew the tenancy,” a Generation Rent statement said.

While the plans have gained support, many in the property industry argue that the ban on fees will, in fact, lead to higher rents for tenants, as landlords pass on the cost of meeting the fees.

NOW WATCH: Trump is reportedly selling his Caribbean estate for $28 million — take a look inside

Please enable Javascript to watch this video

Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2sw4rp4

(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!



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