An independent letting agent is making a series of acquisitions ahead of the tenant fee ban due to come into force next year.
Let Leeds founder Luke Gidney said: “We are carrying out the acquisitions as a strategy to beat the tenant fee ban, so that we can keep all our brilliant staff.
“We’re also reaching out to like-minded agents in the Leeds and Yorkshire region who may like to join forces with us to encounter 2019, which will be a make or break year for a lot of independents.
“We believe that joining forces with other independents is a way to combat the danger our industry is currently facing.
“This way we can help secure the jobs of employees in both businesses, by removing the duplication of overheads and maximising marketing spend promoting one brand.”
Let Leeds has just completed on the second of what will be three back-to-back acquisitions, buying the portfolio of Lets Go Professional, with properties in Leeds and Bradford.
The firm has been run for the last eight years by owner John Huby.
Simple Formula:
Are you in profit by removing all tenant fee income? If Yes, you will survive the tenants fee ban.
No need to complicate the matter.
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