New UK property rental website cuts out role of letting agents, fees
London
HOMERENTER, a new British online property lettings website backed by newspaper publisher Trinity Mirror that was launched on Monday, offers to cut out the role of traditional letting agents and the hefty fees which they levy on tenants.
These fees, which go towards the cost of conducting viewings, verifying references and drawing up contracts, have become an increasingly important earner for traditional agents as a shortage of affordable housing forces more people to rent each year. However, their sharp rise has inflated the cost of renting and fuelled public anger, prompting the British government to last year announce plans to ban such tenant fees.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Singapore’s private home prices up 1.4% in Q1, rents drop by 1.9%: URA
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Singapore office rents in central region fall 1.7 per cent in Q1 over Q4: URA
Homebuyers shun new real estate in Vancouver, hurting builders