‘Half of landlords in the UK expecting fees rise after ban’

first_img Half of all landlords in the UK expect their agent to pass on the costs of running their property after the draft Tenants Fees Bill becomes law next year, it has been revealed.The research, which was completed by ‘deposit alternative’ start-up Reposit, also shows that letting agent fee increases are one of the most common unexpected costs among landlords, alongside repairs and renewal fees, and that a third of landlords have experienced paying costs they weren’t expecting.But the research also reveals that increased fees are not the main reason landlords leave their agent. Of the 41% of landlords who told Reposit they had left their agent in the past, only 11% said it was over raised fees. Instead, customers service (61%) and bad property care (26%) irked them more and prompted them to find a new agent.“With changes to buy-to-let legislation and a ban on tenant fees, landlord perspectives are more important to letting agent revenues than ever before and very little is known about UK landlords’ relationships with their letting agents,” the reports says.But Reposit says the increased costs of being a landlord including the recent hikes in Stamp Duty and reductions in tax breaks, are forcing over a quarter of landlords to consider a cheaper agent – although poor service and a failure to deliver on promises are also key factors.London landlordsReposit’s research, which was conducted among 600 landlords, also highlights how the UK rental market is heavily London and South East biased, with 52% of all landlords operating in these two markets. The next largest buy-to-let market is the North West, Reposit says.It’s also a middle-aged activity. Over three quarters of landlords are aged over 45 years old, although there are few plucky young investors – 1.6% of landlords are aged between 18 and 24 years old. Reposit’s research also reckons there are two million landlords in the UK who own five million properties. landlords Reposit Tenant Fees Bill deposits fees ban November 2, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » ‘Half of landlords in the UK expecting fees rise after ban’ previous next‘Half of landlords in the UK expecting fees rise after ban’But research shows higher fees are the least common reason landlords quit their existing agent or decide to self-manage.Nigel Lewis2nd November 201701,166 Viewslast_img read more