Time passes all too quickly, particularly at this time of the year, and unbelievably it has already been a week since the autumn statement and all the turmoil it caused for letting agents. The announcement that caused the huge reaction in the printed, broadcast and social media was simply a single sentence saying the government would ban tenant fees for letting agents. There was no further detail and therefore we are left not knowing the extent of the ban or the time scale.
Much of the focus of the media had been on the apparently inevitable, knock on effect. The assumption being, that letting agents will need to pass the fees to landlords who in turn will put up rent to cover their increased costs.
Here at The Country House Company we are confident our fees are fair and transparent. We will continue with the same fee structure until we are instructed otherwise and if there is going to be a reallocation of fees we will give plenty of warning.
The initial expectation from ARLA was that the ban on tenant fees would take 12 – 18 months to implement. ARLA have issued an update today stating:
“This expectation has been confirmed by DCLG (Department for Committees and Local Government) although there is no guarantee that legislation will not be added to an existing bill which would bring the timetable forward.”
Although ARLA go on to say that “Agents have to start to make practical preparations now”, here at The Country House Company we are going to keep calm, keep you informed and carry on…………..