A significant number of buy-to-let landlords do not use letting agents to find or manage properties, and it has been suggested that many more should consider ditching ‘rip-off agents’.
Buy-to-let landlords have once again come under the media spotlight following the announcement last week that there will be a ban on letting agents charging fees to tenants, which many experts believe will lead to higher rents, as landlords seek to raise extra funds to help support agents who will undoubtedly shift the fees on to landlords.
But one commentator has suggested that it is easy for landlords to avoid becoming “villains” after the tenants fee ban by choosing to simply “ditch rip-off agents”.
Simon Lambert, editor of This is Money, wrote on the website: “Landlords are always ripe for a kicking in some circles, so it should come as no surprise that they were swiftly painted as potential future villains in the ban on tenant fees.
“The theory on the news that Chancellor Philip Hammond would ban tenant fees in his Autumn Statement was that buy-to-let owners would respond by passing on higher costs through rent rises.”
But Lambert suggested that buy-to-let landlords have as much right to be “as angry as tenants over letting agency fees”.