Islington Council has just launched a not for profit letting agency. The USP of the agency is that it will not charge tenants any fees and guarantees rental income to landlords.
The agency is to be called Islington Lettings and landlords will be guaranteed 6 months rent upfront although the rent must not exceed the local housing allowance.
The properties will focus on family tenants currently in temporary accommodation so the agency will not act a competitor in the general lettings market.
The agency does fit with the wider Labour party policy of banning all letting agency fees to tenants should they get into power in the coming General Election.
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