Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Letting agents introduce new fees for landlords following Renters' Rights Act
A growing number of landlords are seeing their letting agent bills increase as agencies introduce fresh charges in the wake of the Renters' Rights Act, according to a report by Property118 citing The Telegraph.
The report highlights examples of the new fees now being passed on to landlords. London agency KFH is charging £12 plus VAT for additional statements, while landlords elsewhere have reportedly been quoted up to £300 for Renters' Rights Act compliance audits.
What the report says
As reported by Property118, letting agent bills are growing for a growing number of landlords as agents bring in new charges following the introduction of the Renters' Rights Act. The figures cited, the £12 plus VAT charge for additional statements at KFH and quotes of up to £300 for RRA compliance audits, are drawn from The Telegraph's reporting.
What this means for agents and clerks
For UK letting agents and inventory clerks, the report points to a shift in how post-Renters' Rights Act compliance work may be charged for. Agents reviewing their fee structures, and clerks whose documentation and statement-related work may fall within these new chargeable services, may wish to read the original report for the full details.
Landlords and agents seeking more information can consult the original Property118 article and The Telegraph's reporting.
Source: Property118