Philip Hammond is set to announce a ban on letting agent's fees. If this occurs the question will be revisited as to who is responsible for payment of these fees - will it be the landlord or the tenant? If the ban materialises there is a concern that these fees will be passed onto tenants by way of higher rents.
My view is that the market forces in most parts of the country will make this unlikely. There have been additional requirements placed on agents and landlords to check the legitimacy of a tenant’s right to live in the U.K and these and other checks need to be paid for.
We'll keep an eye on how this proposal develops and the effect it has on rent levels going forward. Look out for future posts!