The Autumn Statement today announced the news that letting agent fees for tenants will be banned. Letproof.com offers a clear alternative for both landlords and tenants.
The move is said to save 4.3 million UK households an estimated average of £337 in fees, and follows Scotland’s ban on tenant admin, reference and credit fees.
For tenants, at least in the short-term, the ban will be welcomed, but the National Landlord Association among others are warning that this could result in increased rents in the long-term.
The costs will be shifted to Landlords inevitably pushing up rents, which will once again affect tenants.
An alternative for both landlord and tenant is a more transparent, flexible and cost effective option. Enter Letproof.com – as brand new property letting community we match tenants and landlords directly. Our social media style portal is completely free for tenants, and uses a daily pricing structure from 10p a day for landlords to list their property. There’s no sign up fee or long-term commitment and as the site grows it’s currently free for landlords too!
This exciting start-up is growing organically and aims to revolutionise the future of letting.