Manchester’s estate agents outraged by letting fee ban
Estate agents across Manchester have been left stunned by last week’s announcement from Chancellor Philip Hammond, that letting fees are to be abolished.
According to lettingfees.co.uk, the average fee paid in Manchester city centre, range from as little as £50 to as much as £694.
However, despite some welcoming the move, others claim that simply removing the cost will end up hurting tenants the most.
In a recent study by letting agent, Upad.co.uk, as estate agents look to move the cost onto landlords, some 40 percent of landlords will look to increase rents in order to recoup the subsequent loss on their part.
As expected, since the announcement there has been widespread indignation among certain corners of the industry, with the Association of Residential Letting Agents (ARLA) calling for the ban reversed.
Managing director, of the Association of Residential Letting Agents (ARLA), David Cox, said: ““A ban on letting agent fees is a draconian measure, and will have a profoundly negative impact on the rental market.
“The banning of fees will end up hurting the most, the very people the government intends on helping the most.”
And it seems that ARLA is not the only one that sees the move as wholly negative, with high street agencies similarly shocked at the perceived attack on estate agents.