A Labour MP has presented Parliament with a petition urging that letting agents’ fees should be capped.
There were a modest 1,500 signatures on the petition presented by Helen Hayes, MP for Dulwich and West Norwood.
Hayes has in the past campaigned against fees and last year initiated an online survey to - as she put it at the time - “capture the reality facing private tenants in the area as part of a campaign for secure and affordable homes.”
At the time she wrote on her website: “I speak with many people in Dulwich and West Norwood every week and increasing numbers tell me they are fed up of rip-off charges from letting agents, huge annual hikes in rent and the insecurity of one year tenancies.”
At the time Labour was campaigning for three year tenancies and urging a ban on letting agents from charging what it described as “unfair” fees to tenants, which it said amounted to an average of £350 a year to most private renters.
The Renters' Rights Bill, proposed by the Liberal Democrats, includes measures to ban agents charging tenants registration fees, admin fees, reference check fees, renewal fees and exit fees.
It was given an unopposed second reading in the House of Lords. It is a Private Members' Bill which now goes to the Commons.
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Are we all walking around with targets on our backs? The property industry has in recent months been the subject of new legislation incurring costs that we are expected to absorb MP's petitioning for the capping / abolishing of agent fees, how about the BANKS with baes interest rates at around 1% why do banks and credit card companies charge 25% and upwards and get away with it surly this is profiteering on the grandest of scales, yet its us that bares the brunt of any profiteering campaign by all asunder.
It is a very simple equation the running costs of the business divided by the number of transactions equals the fees needed to run the business. It seems that these idiot MP's have no grasp on business but they jump around telling business people what to do. They make themselves appear as planks of wood - always have and always will.
I agree with Mark & David on their comments except that base rate is 0.5% and not 1%. Do your homework Mark as you have demonstrated that you are in line for being an MP!
How about they enforce the legislation they have brought in first before worrying about things like this- loads of agents dont display their fees as legally required AND havent join a redress scheme. Better yet, maybe agree on who they want to lead their party!?! After that, if you want Landlords to assist with longer tenancies and fixed rents, maybe get the banks on board as many dont permit more than 1 year tenancies AND (God forbid) offer Landlords incentives/tax breaks to come onboard.
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