Autumn Statement | An Inventory Point Of View
Date: 1/12/16 Category: Lettings News
With the recent announcement from the Chancellor in regard to the ban on letting agent fees, unsurprisingly there has been a lot of comment, and retaliation from agents and industry bodies. There will be a consultation period launched by the Department for Communities and Local Government before the legislation is put forward by ministers and any laws passed. This time could be crucial for the lettings industry to ensure any changes are measured and not excessive and harsh.
Critics may say the declaration is akin to a collective punishment after a minority have been taking advantage of a high demand for let properties. As industry members have already voiced, the majority of fees cover necessary services for a proper and fair tenancy process, which is certainly the case for our clients.
From an inventory point of view, we would emphasise how imperative the document and procedures for the tenants as well as the landlord. The cost for the services at the beginning and end of tenancy are often split due to the importance of this coming from an independent provider. Other services in the process are also deemed a necessity and beneficial to both parties, so, therefore, the cost fairly apportioned. At this stage perhaps the best scenario to be expected is some regulation and capping to ensure a fair process for prospective tenants and landlords alike.