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Fees ban is part of official drive to reduce size of lettings industry, claims TPFG

Fees ban is part of official drive to reduce size of lettings industry, claims TPFG

One of the UK’s leading franchised letting agency groups has claimed that the tenant fees ban is part of a plan to eliminate smaller agencies from the market and encourage the larger, more corporate players, as well as the official aim of introducing greater ‘transparency and fairness’.


The Property Franchise Group (TPFG) says the lettings fee ban is part of a wider attempt by government to encourage a “smaller number of stronger, more professional and better regulated agents”.


“The short-term effect will be to drive some of our competitors out of business as they struggle to deal with extra regulatory hurdles such as mandatory Client Money Protection or face a significant loss of income because their business model has been predicated towards charging excessive tenant fees,” says TPFG’s CEO Ian Wilson.


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