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Agents express frustration over plans to cap tenants’ deposits
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Original Source: Property Eye.
Original Author: Rosalind Renshaw.
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Agents have expressed their frustration over plans unveiled in the Queen’s Speech to cap tenants’ deposits to no more than a month’s rent.
Attendees at the latest Fair Fees Forum said it showed a lack of understanding on the part of the Government as to how the private rented sector operates.
The agents – who included Chestertons, Connells, Countrywide, Hunters, Northwood, Spicerhaart and Winkworth – will make further representations to the Government through the Forum.
The Forum also wanted the Government to ensure that the forthcoming legislation addresses attempts by rogue agents to circumvent the ban, for example by new charges introduced during a tenancy.
It was confirmed at the meeting that the Welsh government will be issuing a consultation on letting agent fees shortly.
The meeting heard that there have been 4,700 responses to the Government consultation on the ban in England – half of them from tenants.
Agents at the meeting also wanted to know about the timescale for the introduction of mandatory Client Money Protection. It was confirmed that the Government will consult on this.
The Property Ombudsman, National Approved Letting Scheme, Property Redress Scheme, National Landlords Association, Deposit Protection Scheme, Ombudsman Services: Property, and Shelter were also at the meeting, along with the British Property Federation.
The Department for Communities and Local Government, the Greater London Authority, and Welsh government attended in listening mode.
http://www.propertyindustryeye.com/agents-express-frustration-over-plans-to-cap-tenants-deposits/
