National Approved Letting Scheme calls for cap on agent fees
The National Approved Letting Scheme has today called for a cap on letting agent fees charged to tenants, as opposed to a widespread ban.
This organisation represents both letting and management agents and feels that a cap on fees is the most appropriate way of preventing excessive fees, currently charged by a small minority.
Action
Isobel Thomson, Chief Executive of The National Approved Letting Scheme, believes it is time for the industry to take action, before the chance of an outright ban becomes a viable option for the Government.
The Renters’ Rights Bill is steadily making its way through Parliament. This Bill proposes an outright ban of fees charged to tenant and has already received two unopposed readings in the House of Lords.
Earlier on this year, a petition against these fees received media coverage. This petition, entitled, ‘Make Renting Fair in England’ has received over 250,000 signatures.
National Approved Letting Scheme calls for cap on agent fees
Fees
Thomson believes that efforts to explain to the Government on why upfront fees are necessary are often, ‘hampered by sensationalist headlines.’
‘We believe a cap is an appropriate way of curbing any excessive fees and offering protection to the consumer. By offering a cap calculated and enforced at a local level, we still allow agents to be paid for the work they do in setting up a tenancy, while also ensuring a fair, set rate for tenants,’ she observed.[1]
She went on to call on all industry bodies to join forces to come up with a, ‘proper solution to an all out ban.’[1]
[1] https://www.lettingagenttoday.co.uk/breaking-news/2016/9/nals-calls-for-cap-instead-of-ban-on-letting-agent-fees