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  • Property-a-holics

    An end to tenant fees

    And it only took three years!

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    The UK's largest letting agent. No admin fees for tenants, first listing free for landlords!

    Proud OpenRenter, reluctant lead tenant.

    Hi Sam - On your website it currently says "Referencing is free to landlords within Rent Now - we charge tenants and guarantors £20 each to ensure applicants are serious about going ahead"   Will this all change once the ban comes in?

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    Please can someone clarify.  When the tenant fee ban takes affect, as a landlord who self lets I will have to pay for the referencing of the tenants?  I currently use Openrent, does this mean they will no longer be able to ask for the £20 from tenants for referencing?

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    It starts 1st June. Yes Open Rent will not be able to charge for referencing as they are a letting agent

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    [Image: New-logo2.png] Manchester based investor. I buy, sell, renovate and rent investment property in East/North Manchester Wink email: mike@brentwoodinvestments.co.uk Call: 0161 681 3724

    Thanks.  However as a landlord I will also not be able to charge the tenant direct for referencing?

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    Hey Latimer, Michael, Adam.

    Adam's correct in that OpenRent landlords are permitted to charge tenants no more than £20 in order to cover the cost of referencing the tenant. When the new rules come in, then of course the site will no longer permit landlords to charge this as it will not be compliant with the new Act.

    As an OpenRent landlord, Latimer, you'll hear first about exactly what this means in terms of the OpenRent tenancy creation process. Keep an eye on the monthly landlord update email!

    Sam



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    The UK's largest letting agent. No admin fees for tenants, first listing free for landlords!

    Proud OpenRenter, reluctant lead tenant.

    OpenRent don't charge the tenant £20 for referencing (afaik). The suggestion is that the landlord will charge a maximum £20 per person referencing.

    Will this still be the case does anyone know?

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    At Homefinders estate agency in London they charge 0% Management Costs to all Landlords on their 3 year lease scheme on 1-5 Bedroom Properties..worth a recommendation.

    Also i believe their tenant fees are very reasonable.

    The current tenants they found us had a bad experience previously and didn't ever want to use an agency to rent again. But they have soon changed their mind.

    I will be more than happy to give you a name or 2 of people who could assist with anything further.

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    As a self managing HMO landlord, when we rent a room we charge a fee of £40.
    This pays for the reference checks and for the person who 'sells' the room.  

    It's not a huge issue for me but still slightly annoying as we will only let someone rent a room if they have passed referencing.

    Whats the solution? I'm guessing we need to inform the potential tenant that they need to get themselves reference checked and show us the evidence that they passed, before they move in. 

    ​Any other solutions/ideas? 

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    A checklist of questions to go through may be another option, which I'm sure you already do.

    eg. How long at current address, reason for leaving etc.

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