With all the talk of tenant fees being banned - we're going to look at just how this will affect you as a Landlord!
The average Tenant spends approximately £350 in admin/reference fees when moving into a new property. MP's are now in advanced discussions to ban Letting Agents & Landlords from charging these fees. Local Authorities will be monitoring the behaviour of Landlords & Agents and there will be strong penalties should these charges continue.So, if you're a Landlord, what does it mean for you?
It's highly likely that due to the large loss of income for Agents, these fees will be passed over to charges that the Landlord will incur when letting their property. With the current average Tenant Find Fee at 4 weeks of the rental figure combined with inventory fees, tenancy agreement fees, and any fees for additional services, it was already expensive to find a tenant. Now with the potential additional fees added onto this, the bill is seriously starting to rack up.So what are your options?
Cornerstone Property Group offer a free service to Landlords, charging No Tenant Find Fees as well as offering Free Property Management. If you have a property to let and don't want to pay the ever growing costs to letting your property, contact us today on 0333 772 0862 to speak to one of our experts.