Banning Letting Fees in Great Britain

[stonerblue]

I could rent out my 2 up 2 down end terrace on the edge of city centre and on tram line for 450 a month no problem.

Buy to let tax relief, crazy deposit prices, housing benefit rules and investment portfolios have comp[letely fucked the up the rental sector

 

[Blue Smarties]

Its way more than that. Looking at a couple of ton these days, or £300 a couple

Probably £150pp then. I really should remember, ah well.

OP, when I was looking at town it was at least £700 for a one bed.

Bit cheaper in Liverpool.

 

[The Northern Baptist]

I don't agree with banning these fees, but capping them would be good. There are costs involved to the agent to verify that you are able to pay the rent. But the letting fess should reflect the work done.

Much like those bank fees from a couple of years ago, used to be £30 every time you had a direct debit go unpaid, now it's about £8 I think

 

[grunge]

I could rent out my 2 up 2 down end terrace on the edge of city centre and on tram line for 450 a month no problem.

Buy to let tax relief, crazy deposit prices, housing benefit rules and investment portfolios have comp[letely fucked the up the rental sector

You could probably double that unless your in a really dodgy area.

rental fees like this are just a tax by estate agents, and they charge this every time the contract is up for renewal, so every 6/12 months. on top of getting paid by landlords for dealing with renting out the property and managing it.

 

[mancity1]

All depends what and where but in Mcr i'd agree £300 to be about average. The fee in theory covers the administration involved in sorting out new tenants. The regulation is growing and there is a lot of red tape that has been introduced recently for landlords / agents, deposit protection and right to rent etc. The agency market is competitive but these fee have been growing while typical % rates charged to landlords have not changed or have even come down over recent years. Is what it is, outlawing them will just push up rents and % rates.

Too true , the same thing will happen if they abolish negative gearing over hear in oz which the Labour Government now in opposition likely to win the next election ( they will be a shoe in if they get rid of their current leader ) will legislate for.

The people that suffer are the very people they "seek" to protect.

The real estate industry here in oz is amongst the most deregulated because it brings in huge amounts of tax whenever someone buys, sells , leases etc etc.

There are always calls for a royal commission into the banking industry here but never the real estate industry.

Land tax is paid at ludicrous amounts and none or very little of the revenue collected is invested in programs to make the real estate act enforcable to the many greedy rogue agents that are allowed to enter peoples homes.

Until Auctions are banned and agents lose their licence when found guilty of the many breaches they continue to knowingly undertake because they know the penalties even if levied by authorities ( rarely do the police get involved ) are nearly punitive enough.