Lettings Fee Ban Legislation Will Not Be Before Spring 2019 | Discuss

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Lettings Fee Ban Legislation Will Not Be Before Spring 2019
11/01/2018
11:39 am
News @ Tenant Referencing
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The government has recently revealed to NALS that implementation of the ban on letting agents’ fees levied on tenants in England will not take place before Spring 2019 at the earliest.

The government have said the reason behind the delay is because it will take a substantial period for the legislation to get through parliament, where in a direct explanation to Letting Agent Today the Ministry for Housing, Communities and Local Government have said that the all-party Communities and Local Government Select Committee of MPs is carrying out pre-legislative scrutiny of the draft Tenant Fees Bill – the legislation containing the ban.

It was announced in the last Autumn Statement that a ban on letting agents charging fees to tenants would be introduced across England in the near future.

Why do the government want to ban tenant fees?

  1. The government believes that fee transparency legislation hasn’t worked as tenants are often confused by what they have to pay and often can’t shop around.
  2. Landlords can shop around and can choose which agent (if any) they use.
  3. The government believe that Agents often double charge. Their view is that referencing work is to the benefit of the landlord so LL should pay.

Tenant Referencing UK realises the value of better referencing and insurances to protect private landlords from problematic, non-paying tenants and the value to the community of avoiding difficult neighbours.

So we are firm believers that the introduction of the Tenant Fees Bill (view online draft) will create a significant financial burden on landlords and agents.

Landlords and Agents may be tempted to undertake cheap, substandard referencing to cut costs and this will, of course, be to the detriment of everyone. It is because of all of these changes that in order to keep up good standards in tenant referencing Tenant Referencing UK has launched The Tenant Passport.

The Tenant Passport is where a tenant can create their own electronic referencing file, which can be shared with a future landlord or agent. This file is a passport for a tenant to prove (formally and in writing) that they meet the affordability criteria for the rent required, financial stability as well as including good (written) employer and landlord references.

The further benefit for landlords and letting agents is that by introducing their tenants to Tenant Referencing UK, not only will we undertake all of the referencing for their applicant tenants but we will even pay them a credit reward for the introduction. Please click here for full information on the TR Group Introducer Scheme.

Agents should also check this out: https://rentsafeuk.co.uk/becoming-a-rent-safe-uk-affiliate/

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