A leading London lettings agent has delivered a withering verdict on the Tenant Fees Bill and its unintended consequences for the industry.
The comments have been made by Tim Hassell, managing director at London lettings firm Draker.
He goes on to say that: “To ban companies from charging transparent fees for services is an overstep into private industry actioned in a blunt and lazy way.
“However, regulation is crucial; far more work needs to be done in this area, but government needs to allocate proper time and resources into refining regulation rather than using a sledge hammer to miss an egg.”
“The smaller agents that try to undercut more established companies by offering lower fees to landlords will face immediate financial pressure and will need to start charging proper fees to landlords at speed to survive,” he says.