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TODAY'S OTHER NEWS

Fees ban update: MPs to debate Tenant Fees Bill today

MPs will today undertake the second reading of the Tenant Fees Bill which proposes to ban upfront tenant fees and introduce caps on security and holding deposits.

The ban on fees is expected to take effect next spring after the Tenant Fees Bill 2017-19 was introduced to House of Commons for its first reading on May 2.

MPs have been provided with a background report and today's second reading provides them with the first opportunity to debate the Bill.

At the end of the reading, MPs will vote on whether the Bill should proceed to the next stage. 

Trade body ARLA Propertymark has sent a detailed briefing to all MPs ahead of today's meeting. It outlines the full range of services agents currently provide, as well as some of the potential unintended consequences of banning upfront fees.

It quotes its own survey which suggests that 90% of agents think the ban will lead to a rise in rents, 60% think that the quality of properties will decline and 40% think it will result in a fall in employment.

The organisation then goes on to explain why it does not feel a ban will make the market fairer for tenants and why it will not make the sector more competitive.  

David Cox, ARLA Propertymark chief executive, is urging agents to contact their MP about the consequences of a ban on fees. 

ARLA Propertymark has created a campaign tool kit which agents can use to contact their MP directly.

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