Seventy percent of landlords think fees of around 11% for renewing properties on a let only basis are unfair. Many letting agencies still charge these kinds of fees and landlords seem fairly united in the idea that it is not any kind of reflection of the amount of work the letting agency has to put in.
The problem seems to be fairly confined to London and the South East, other regions tend not to have these fees which only emphasise the unfairness. Presumably they would not claim that the work that goes into renewing a property in London is anymore than in say, Manchester. That would just be ludicrous.
The National Landlord Association (NLA) released two statements regarding this issue, the first is directed at landlords themselves. John Socha the vice chairman of the NLA had this to say
“ Landlords get no added value from letting agents on ‘let only’ deals once a tenant has been secured. Why should they have to pick up the tab just to keep the same tenants?
It is crucial landlords check the small print of all contracts before they sign on the dotted line. Any clauses which cause concern should be negotiated out of the contract.”
He also aimed this at the letting agencies themselves, “We would like to hear from any letting agent in the region who is willing to commit to scrapping these fees before the law is changed and they are forced to do so.”
I totally agree with NLA on this one and urge all landlords to take their advice. A united front should soon see these ridiculous fees abolished.
