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Rents WILL rise after fees ban and our profitability will be hit, say agents

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A majority of letting agents believe that rents will rise by 5% to 10% per month once the fees ban is introduced.

Only a tiny proportion (1.33%) are in favour of the ban, with 79% in favour of a cap.

These are two of the findings by guaranteed rent firm Rent4sure, which surveyed 452 letting agents from around the country to ask for their views.

While about 40% think rents will rise by 5% to 10%, 25% think rents will go up by between 1% and 5%, and nearly 20% think the rise will be 10-15%. The remainder think that rents could rise upwards of 15%.

The agents overwhelmingly (92%) said the ban will affect the profitability of their business.

The findings are in contrast to a claim by Goodlord that most agents were broadly supportive of the ban.

Most agents ‘support impending ban on tenant fees’, claim

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Source:: Rents WILL rise after fees ban and our profitability will be hit, say agents