The ban on tenants’ fees beginning on June 1 presents an opportunity to overhaul the private rental sector, says a property management firm.
Mark Neighbour of Mcilroy Smith says agents could use the ban to boost the status of the sector.
“Combined with requirements for qualifications, this will also hopefully go some way to improve the negative view of lettings professionals and instead allow managers to be seen as a qualified professional service - which the majority are” he says.
“The evolution of the ‘high street agent’ has been clearly on the horizon for many years now…The fees ban is just the next mechanism which is driving this change. I believe the business needs to change to meet the new challenges raised by legislation and changes in technology but also to improve the way qualified agents are viewed.
“Clear transparent pricing based on service is the best way to accomplish this and show both tenants and landlords that they are working with a professional and ethical company.”
But he warns that if most agents charge higher fees to landlords, this would drive up rents.
“We do not think that it has to mean rent increases for the tenants in general” he says.