Responding to today's announcement that the Government has launched a consultation into the banning of letting agent fees…
Chris Norris, Head of Policy at the National Landlords Association (NLA), said:
“Yet again the Government has published plans to tackle a particular element of the letting agency market, whilst at the same time suggesting other areas that they ‘might’ like to look at in the future.
“It is about time that landlords and agents were given some certainty about the market’s regulatory future – which could be easily achieved by agreeing an over-arching system of regulation for letting agents once and for all.
“We’re particularly concerned that the scope of this consultation appears to have drifted to include tenancy deposits, with suggestions that a ‘cap’ may now be necessary. This looks like yet another attempt to affix a sticking plaster to a perceived problem without really understanding what is driving behaviour in the real world”.
Richard Price, Executive Director of UKALA, said:
“While we’re pleased the Government listened to our suggestion to exclude holding deposits and in-tenancy charges from the scope of this ban, the fact cannot be ignored that it will seriously affect our members’ ability to run their businesses.
“Small agents in this market are drowning in constant policy interventions. The publication of this consultation in isolation, at a time when we’re awaiting further proposals on requirements for all agents to hold client money protection insurance, is proof that this Government does not have a clear vision for the future of the sector.
“If they really want to completely regulate letting agents then why waste time by constantly moving the goal posts?”