How much will agents lose when letting agent fees ban kicks in?

It’s a figure much discussed within the consultation document published on Friday setting out the Department of Communities and Local Government (DCLG’s) plans to introduced a letting agent fees ban. If the DCLG’s plans are implemented as they stand following the consultation period, then neither landlords nor agents will be able to charge tenants any “fees, premium or charges to facilitate the granting, renewal or continuance of a tenancy”. “The Government also proposes to ban any letting fees charged to tenants by landlords and any other third parties to ensure that letting agent fees are not paid by tenants through other routes. Tenants should only be required to pay their rent and a refundable deposit,” the consultation says. Average fee Within the document’s detail, the DCLG says the average fee taken by agents is between £200-300, based on the 2014-15 English Housing Survey, while the National Approved Letting Scheme (NALS) is reported to have indicated an average fee of £172 with a range of between £30 and £500. Campaigning group Generation Rent told DCLG that the average for a couple renting a home is £400 within range of between £40 and £780, while homelessness charity Shelter believes one in seven renters…

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