Portico’s MD, Robert Nichols, comments on the Tenants’ Fees Bill

“A new Tenants’ Fees Bill was confirmed in the Queen’s Speech, which will stop renters from having to pay upfront fees to landlords or letting agents.

While the ban will come as welcome news to renters, the fees allow landlords and agents to carry out a series of vigorous checks on prospective tenants before they let the property. Ultimately these costs have to be paid be somebody, and they’re likely to fall on the landlord.

I suspect most landlords will end up increasing rents to recover these extra costs, meaning the ban will be simply moving costs around rather than reducing them.”

Robert Nichols, Managing Director of London Lettings Agency Portico