Lettings agents fear massive revenue losses due to Tenants Fees Bill

To Let 690

A new report sharing results of the Rental Repairs Survey has been published for 2018, with some very interesting findings for the industry.

Over 400 lettings professionals from around the UK gave answers on a range of subjects and, in a new section for this year, it also included insight from Fixflo’s first ever Landlord Survey.

One of the key findings was that lettings agents estimate that they could lose up to 30% of their revenue due to the Tenants Fees Bill. This is particularly pertinent as the Tenants Fees Bill recently had its third reading in the House of Commons and is due to go to the House of Lords on 5th November.

In addition to this the report covers:

• The number of letting industry professionals considering their position in light of the recent developments
• Themes around time of day and time of year repair reporting
• The growing use of technology to increase capacity and capability

Rajeev Nayyar, Managing Director for Fixflo, had this to say: “The annual Fixflo Report has again proved to be a valuable mirror to the lettings industry. That lettings agents fear losing nearly a third of their revenue is extremely concerning however, there is much more to this picture than meets the eye and the Fixflo Report is a great place to start. For example, we’ve learnt that while 72% of landlords think that recent changes have made it hard to be a landlord, only 19% are looking to decrease their portfolio size with 70% looking to hold or grow their portfolios…The results are good news for landlords, lettings agents and renters.”

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