Claim is made by leading recruiter for industry which says smaller independent estate agents will be hit hardest.
The new Tenant Fees Act will save renters across England £240 million a year as tenancy deposits are capped and landlords and agents are banned from charging unnecessary fees, it is suggested.
But rent activists are concerned that some agents intend to flout new laws
The Tenant Fees Act 2019 (Act) has recently been enacted and is due to come into full force on 1st June 2019. The key provisions of the Act restrict the kinds of payments that landlords and letting agents can require and prohibit certain arrangements in connection with the letting of housing in England.
Wales is the latest country within the UK to enact a ban, leaving just Northern Ireland without plans for similar legislation.
The average asking price of a house in the UK has increased by £40,000 over the past five years delivering a revenue increase of £536 on average per sale for estate agents, the latest housing market data suggests.
There is a huge sum of money currently tied up in the private rental market across England and this will fall with the introduction of the tenant fee ban on 01 June by almost £3 billion a year, new research suggests.
A review of how solicitors offer conveyancing services has found many do not explain the difference between leasehold and freehold and raised concerns about transparency relating to fees.
Newspaper's researchers looked at 200,000 recent sales transactions and concluded that some agents with high fees tend to over-value homes.
The Property Ombudsman has issued guidance on dual fees where two estate agents have been instructed and both are claiming a fee for selling a property, an issue that is a regular source of complaints.
The Property Ombudsman has warned estate agents to stop carrying on with sales when they are aware that they did not initiate the introduction.
New guidance has been published on referral fees received by estate agents across the UK, which will make previously hidden fees open and transparent to consumers.
Five senior judges have thrown out an appeal by a developer who believed he didn't have to pay an estate agent a £42,000 fee.
The ban on letting fees in England and a cap on tenancy deposits is set to save renters at least £240 million a year, or up to £70 per household, according to the Ministry of Housing.
Mark Drakeford confirms 'very likely' date for legislation to go live during meeting at student's union in Cardiff.
Tenant fees in the private rented sector in England are set to be banned in under five months time with the new law coming into effect on 01 June this year.
My daughter may pull out of a property purchase – will she have to pay her solicitor for work done so far?
There will be no increase in fees for home buyers in Scotland in 2019, it has been confirmed.
A letting agency has been demanding hundreds of pounds in payment before prospective tenants are allowed to view properties for rent, the BBC's Victoria Derbyshire programme has found.
Campaigners say new laws going through parliament will not go far enough to stamp out all hidden fees and charges for renters.
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