As you may be aware, there have been a number of legislative changes over the last 3 years within the lettings industry, which have meant that we have had to improve our processes, undertake further staff training and take on an increased level of administration in order to protect our landlords and their investments managed by us.
We have always done our best to maintain our existing fees and will continue in our endeavours to keep our fees as reasonable as possible.
However, as of 1st June 2019, the latest piece of legislation, the Tenant Fee Ban becomes law which means letting agents will no longer be able to make any charge to tenants for the following:
Tenancy amendments / renewal
In order to keep our landlords properties under our management as attractive as possible to new tenants Daniels have never charged tenants inventory fees or tenancy amendment/renewal charges and have simply charged tenants a referencing charge and a small “move in charge” to cover the work involved in setting up each new letting. We will no longer be able to do this by law.
However, you will still need us to fully reference your tenants via our referencing agents and carry out associated checks in order for us to give you the peace of mind that your tenant will prove reliable.
We have as a company thought long and hard about how we may implement the necessary changes to our charges in order to be able to continue our service levels to our landlord clients with the minimum financial impact upon them. In an effort to try and ensure that there is not an understandable delay in a prospective tenants plans to move until the fee ban takes effect we are proposing to discontinue our charges to tenants from 1st May 2019, a month before the ban becomes law.
We feel that this is the best outcome for our landlords and our prospective new tenants and will give our landlord properties the edge over the course of May until the fee ban becomes law.