At Fairview Estates, we’ve been expecting this announcement for a while, to the point where we discussed the idea of not charging letting fees to tenants when founding our business. We eventually decided to charge the minimum fee to balance our books, given that it was common practice.
“In reality, today’s ban on letting agent fees will encourage agencies to look elsewhere for their income and many will charge landlords more. While Philip Hammond’s announcement will make the lettings process fairer for tenants in theory, it risks putting landlords off; the number of landlords willing to invest in property could fall and there will be more shopping around for the right letting agent.
“Existing landlords could be forced to sell their properties as they are charged higher fees and with less property on the market, rent prices will rise for tenants.”
“Ultimately, fewer landlords and higher rent prices will only make it more difficult to rent property, and tenants will be left back at square one.”
Fairview Estates is a Nottingham-based letting and estate agent that specialises in the rental and sales of medium to high end properties. Founded in 2011 by Aaron Cambden and Rob Pitick, Fairview Estates is a young and passionate company that prides itself on providing bespoke, transparent and industry-leading customer service to buyers, renters and landlords.
At Fairview Estates, we take the time to meet potential buyers, tenants and landlords face to face to discuss requirements. We then use our in depth, local knowledge of the East Midlands to match customers with their ideal property. Our approach has been recognised by three ESTA awards that named us Nottinghamshire letting agent of the year in 2013, 2014 and 2015.