Autumn statement thread


#1

Let’s get’s proper nawty.

Is there really going to be a ban on letting agents fees? Because that seems almost… good?


#2

Hate that photo of poised faux-nonchalance they’ve trotted out.

https://i.guim.co.uk/img/media/031de9ddb434453caca42052a6c321ed2ceca994/0_151_3500_2100/master/3500.jpg


#3

Personally, I’m hoping to have to pay more income tax.


#4

What ive seen so far looks good (except for the above photo)


#5

Could be Hammond’s first and last y’know. Let’s breathe it in.


#6

how is he going to turn the pages without getting his tea everywhere?


#7

Thing about the lettings fees ban, and bearing in mind that I’ve done basically no reading into this: since we don’t have rent controls in place, and most* rental markets have huge competition between tenants for decent properties, will those costs not ultimately be passed onto tenants through increased rent anyway?

*citation needed


#8

Probably get an aide to do it, like a total pianist.


#9

quite right


#10

Fucking can’t stand it


#11

The letting agent thing sounds good, but I should imagine it will mean the letting agents make the landlords foot the bill and landlords have another excuse to put up rents. But I suppose it at least means tenants have a smaller amount to save for in up front payments.


#12

The actual “costs” are negligible. It costs about £20 to run a credit check on a tenant, I think, and the other costs such as printing off and signing a standard tenancy agreement, completing an inventory, putting a deposit in the DPS etc. etc. which these fees are all supposed to cover are peanuts.

If the worst case scenario is the actual costs being passed on to the tenants the impact of this will be, what, £5 a month on peoples rent? Not ideal but the main problem is the fact that when people are moving they tend to be cash poor at the time - hence why paying walloping great fees are a problem.


#13

Sure, but my thinking is more that this loss in income to lettings agents gets passed on to landlords as increased admin fees, which in turn get passed onto tenants via rent increases to preserve the landlord’s rental yield.

I don’t know if that’s realistic, I’m just assuming that both lettings agents and their customers are going to act in the most money-grubbing bastardly way possible unless there’s a solid reason for them not to.


#14

I await the usual press response along the lines of ‘they’re parking the tanks on Labour’s lawn!’


#15

In reference to the letting agency fees, these were banned in Scotland a few years ago, and Shelter has done some research into the effect it had.

Key point:

The research shows that landlords in Scotland were no more likely to have increased rents since 2012 than landlords elsewhere in the UK. Rents do appear to have risen more in Scotland than in other comparable parts of the UK in 2013; however, most of this rise is explained by economic factors and not related to the clarification of the law on letting fees.

London is obviously a rule unto itself, but I imagine for anyone else you won’t see an issue.


#16

Perhaps. I’d say it’s more likely that agencies will use it as another means of competition to attract landlords to use them to manage their properties. “We won’t pass the fees onto you” etc. Either way - wherever the fees go so long as they’re not onto the tenant at point of moving in in one go - it’s good.


#17

London rents will increase, others areas won’t.

Next.


#18

#19

Keep forgetting Philip Hammond is chancellor of the exchequer. Probably because apart from opposing same sex marriage he’s done fuck all politically. Really struggle to remember anything he’s done.


#20

Not even a real Hamster!