Letting fees prohibited

As from 12th December 2018, the Residential Tenancies Act 1986 will be amended to prohibit the charging of a letting or any other fee charged to a tenant, in respect of charges for services provided by a Property Manager, Letting Agent, Solicitor, or any other person in relation to a tenancy.

If you have engaged a Property Manager to manage your property portfolio, this means that the costs of finding a tenant will fall to the landlord. This may lead to an increase in rent down the track when the shock of it sunk in.

Each agency has its own fee structure, it pays to talk to your Property Manager on how to mitigate the fees.