Since the end of last year letting agents have been concerned with the pending effects of the fees ban however there’s been some good news.
It’s now estimated that the ban will not go ahead until Spring 2019 meaning agents will still be able to charge fees with time to strategies how to reorganise their business when the ban is imposed.
Why the delay?
Industry professionals have been asking the question of when the ban will begin since it was first announced by chancellor Philip Hammond in his November 2016 Autumn statement, and on 10th January their question was answered.
The Ministry for Housing, Communities and Local Government (MHCLG) declared that the start date will not be before Spring 2019 as it will take a substantial amount of time for the legislation to get through parliament. One reason for this delay is to ensure the proper pre-legislative scrutiny of the draft Tenant Fees Bill which includes the legislation containing the ban.
A spokesman from MHCLG has further explained,
“This government is determined to make sure the housing market works for everyone. That’s why we’re delivering on our promise to ban tenant fees, alongside other measures, to make renting fairer and increase protection for people in the private rented sector.
“We announced our Tenant Fees Bill, which has been first published in draft so it can be fully scrutinised by everyone affected. As confirmed in our written evidence to the Communities and Local Government Select Committee, we expect the ban to come into force after spring 2019.”
Make the most of the time left
The delay gifts agents with an extra fifteen months to prepare for the ban. We suggest taking the time to reorganise the business, consider other methods of making money and communicating with landlords to collaboration in the future.
We’ve been working hard to keep you up to date with updates to the ban, and with some time before the legislation starts we suggest landlords prepare by focusing on the organisation of their property portfolio. Set the standard at which the property should be maintained, and returned at the end of the tenancy with a comprehensive inventory and schedule of condition.
We offer property inventory services for landlords and agents who require the security of a robust property inventory report but lack the time to carry them out themselves. Talk to us about how we can assist with your inventory reports leaving you free to ensure you are investing wisely and maintaining