Future Proofing Your Lettings Business
We have been running workshops where the focus was what will happen to Letting Agents when the Tenant Fee Ban is introduced. Clearly at the moment no one, even the senior civil servants at DCLG, has any idea what the ban will "look" like. The Housing White Paper makes reference to a ban of "Upfront Fees" charged to tenants which would encompass administration fees, referencing fees, charges for inventories, check-ins and check-outs. If there is a blanket ban, the impact will far reaching and will include all fees charged to the tenant pre, during and post tenancy.
So how can we run a workshop if we don't actually know what the legislation will ban? The key element of the workshop revolves around a review of the business, analysis of processes, refocusing on core business, diversifying, analysis of current fees and capturing what may be eliminated in the future.
The workshop provides food for thought and the delegates went away with a very clear action plan in place.
Susie Crolla - CEO