How could the ban on letting agent fees actually affect landlords?


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TheHouseShop.com have run some figures to determine the potential financial impact for landlords as a result of Phillip Hammond’s letting fees ban – and, according to them, it’s not as bad as you may think…

Research suggests that the average fees charged to tenants in the UK sits around the £300 mark, increasing up to £700 in some cases in London.

A letting agent will typically charge a landlord between 10-15% of their rental income for a full management service – so based on the average UK rent for October 2016 of £902 per month, this would equate to roughly £95 per month, or £1,140 over the course of a 12 month tenancy.


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