Tenant Fee Ban – Your Options

August 15, 2018

Let’s make no bones about it. When the Tenant Fee Ban comes into force you WILL:

  • See a DROP in your income and profits
  • Achieve LOWER service levels
  • LOSE more landlords

So what are your options for overcoming the challenges faced by letting agents?

Options Pros Cons
Sell up Quick cash injection Your business ceases to exist and you’re locked out of lettings for 2 years+
Increase your fees Make up for lost revenue and maintain income or mitigate impact Risk landlord loyalty and damage your brand
Cut staff Operate more leanly Drop in service levels
Merge with other agents Achieve economies of scale Lose control and brand identity
Outsource to ARPM Save time

Save money

Improve service levels

Grow your business

 None – contact us: 01923 775705

 

At ARPM, we provide a COST-EFFECTIVE solution that’s EASY TO IMPLEMENT and allows you to MAINTAIN CONTROL of your lettings business.

Here’s why hundreds of agents have looked to us to support them in overcoming challenges and excelling in lettings.

Stephen, Oxfordshire, 2-branch agent

“When the Tenant Fee Ban was announced, we were worried that the drop in income would lead to a drop in service levels. With landlords leaving the market, as well as increasing competition, we needed to consider our options.

Having now worked with ARPM for the last 18 months, I can honestly say that outsourcing was a great option for us and proved the right move.

My team is now able to focus on valuations/viewings while ARPM take care of the admin tasks and property management on our behalf, and white-labelled to our business too.

As a result, we have grown our lettings book despite the tricky market conditions and my costs are the lowest they have been in years. I am very happy.”

Want to learn more?

Get in touch and we’ll provide you with a bespoke evaluation of your lettings business and how outsourcing can save it – tellmemore@arpm.co.uk

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

bank of england interest rate
Breaking News

Bank of England Money and Credit – December 2024

These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals rose by £1.0 billion, to £3.6 billion in December. Net…
Read More →
Breaking News

Housing market gets off to its strongest start in three years, with new sales agreed up 12 per cent on 2024

The 2025 sales market has got off to a stronger start than in 2024 or 2023 with buyer demand up 13 per cent and 10 per cent more homes for sale Rising sales are supporting UK house price inflation which is +2.0 per cent in the year to December 2024, compared to -0.9 per cent…
Read More →
for sale sign london
Breaking News

Westminster council must outline how their proposals on property boards will not hinder market

Westminster City Council must explain how their proposals to renew the existing Regulation 7 Direction and expand it to the whole borough will not hinder the sales and lettings markets, Propertymark argues. At present, some areas of Westminster are subject to a Regulation 7 Direction, which means consent from the Council is needed to display…
Read More →
Breaking News

National Federation of Builders View on Chancellor’s Speech

At the Autumn Budget 2024, Chancellor Reeves scaled back her interference in the planning process. However, in her speech today, she returned to the position that a well-functioning planning system is crucial to not only enabling growth but, more importantly, sustaining it. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), commented: “The…
Read More →
Letting Agent Talk

Landlords and Tenants: A Balanced Relationship in the Private Rental Sector (PRS)

New findings from Leaders Romans Group’s (LRG) latest survey reveal a balanced picture of landlord-tenant relations in the UK. Contrary to negative stereotypes often portrayed, the data shows that tenants view their landlords positively while highlighting areas for improvement in communication and responsiveness. The survey found that 55% of tenants believe their landlord provides quality…
Read More →
Estate Agent Talk

Government Correct to Head Off Climate and Nature Bill

The ‘Climate and Nature Private Members’ Bill’, brought forward by Dr. Roz Savage MP, seeks to set new legally binding targets for climate and nature, as well as give the Secretary of State a duty to implement a strategy to achieve these targets. The National Federation of Builders (NFB) has worked closely with Government’s old…
Read More →