Don’t resort to desperate measures
We know that the Tenant Fee Ban has cost letting agents dearly, with an estimated loss of £314.5 million paid to letting agents by tenants*. But desperate times do not always call for desperate measures …
The Government has clarified what letting agents can charge tenants for ahead of the Tenant Fee Ban on 1st June. Letting agents should make immediate note of allowable fees, and ensure their tenancy agreements and associated paperwork reflects the new structure.
Agents will be acutely aware that the above list precludes many of the detailed, time-consuming tasks associated with starting and subsequently managing a tenancy. With the ban imminent, letting agents will need to carefully consider if they pass some of the costs on to landlords or whether they restructure their business to compensate.
ARPM has worked with a number of estate and letting agents and property managers to future-proof their businesses, with agents able to reduce fixed costs and balance books as a result of our outsourced services. To receive tailored advice and your own personalised business plan, get in touch today.Back to knowledge hub