As you may or may not be aware, the government are in the process of banning Letting Agents from charging Signing Fees. It is due to be actioned in April. This will have a massive impact on our business and other Letting Agents across the whole country. We as a business, will be losing a substantial income!
Contrary to what the public may say, the letting agent business is not as lucrative as you may hear. A massive loss of income in the Lettings sector is looming in April with this fee ban, we as a business need to regenerate the loss in revenue. We have had numerous meetings and discussions; the only way we can achieve this goal will be to increase our fees to our landlords by 1.2% (1% plus VAT) from the 1st July 2019. As landlords ourselves, we know this is an added pressure on you. However, we do believe we can offset our fee increase by increasing the rental value on your property by a few pounds a week per tenant.
Please see above our calculator which indicates how much you will need to charge Per Person Per Week to achieve the same rental income next year taking into account our fee increase.
If you have any questions regarding the above, please do not hesitate to contact Kady on 0113 275 1010, or email Kady.Lee@deuestates.co.uk.