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  • £20m letting agent fee bonus

    Posted on 25th November 2016 in News

     

    76,000 lawyers will be financially better off next year, when the government finally gets around to banning letting agent’s fees. 

    According to our research 28% of practising Solicitors in England and Wales rent a property; 30% of CILEX members and 41% of the estimated 76,000 paralegals working in the legal sector are also letting.  

    With a recent English Housing Survey claiming that letting agents’ fees averaged £223, together lawyers stand to benefit from savings totalling over £20.3m.

    Letting agents’ fees have been in the cross hairs for a while. A Private Members bill targeting letting agent’s fees was due to have a 2nd reading in January. The bill was introduced by Caroline Lucas, Green Party MP for Brighton Pavilion. The government has gazumped this initiative but in doing so should be able to drive through change a lot quicker.

    28% of 139,313 practising Solicitors in England and Wales rent a property.

    30% of 20,000 CILEX members let.

    41% of the estimated 76,000 paralegals working in the legal sector also rent.

    We analysed data from over 2,000 respondents who have already completed Douglas Scott Legal Recruitment’s annual survey, the most comprehensive and credible piece of research of its kind in the sector. The questionnaire will close on the 12th December 2016, have your say and you could win a £500 gift card.   

    Tagged:

    paralegal, Lawyers, Solicitors, CILEx, Letting agents fees,

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