The NALS Fair Fee forum - an initiative launched last month - has now set up a working group to consider, amongst other things, what constitutes a ‘reasonable’ fee levied by letting agents on tenants.
NALS created the forum to look at enforcement and ways to curb “the fee excesses that may have crept into some parts of the market.”
At its first meeting this week - attended by agencies including Belvoir, Chestertons, Foxtons, Hunters, Leaders, Northwood, Portico, Savills, Society, Spicerhaart, Touchstone, and Winkworth - there were “robust viewpoints discussed” according to a memo issued after the event.
Amongst matters agreed was the need to undertake additional work on “the current lack of enforcement for those letting agents who do not explain their fee structure clearly or even adhere to the requirement to display fees.”
Now a working group is to meet within the next month to consider how to provide further clarity on fees to tenants and the service the agent is providing, enforcement issues, a definition of what is ‘reasonable’ regarding fees, affordability problems for vulnerable tenants, and lessons to be taken from the ban on fees in Scotland.
The Competition and Markets Authority says there is no time to...
The Fair Fees Forum, a platform for letting agencies and trade...
The NALS ‘Fair Fees Forum’ - set up before last week’s...
At the latest meeting of the Fair Fees Forum, members described...
When we talk in general terms about the UK housing market,...
The plight of the nation’s first-time buyers may be the focus...
Dog-owning house buyers who want to live in areas of abundant...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Let's be honest – landlords are the lifeblood of any letting...
Attention estate agents: if you're looking for a bumper Christmas bonus,...
.png)
I think we can all agree that the National Trading Standards...
Houses in Multiple Occupation are making up an increasing percentage of...
A lettings agency has been expelled from The Property Ombudsman scheme...
The government has written to Conservative MPs promising changes to the...
There’s been at most a one per cent reduction in landlords...
Tenant groups and charities reacted angrily over the Easter weekend to...
The government has written to Conservative MPs promising changes to the...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment