Property News · November 23, 2016

Will rents go up if unfair letting fees are banned?


Tenants will welcome the end of eye-watering charges – but that could simply mean they pay more each month insteadWhen Rory Gray moved into a one-bed flat in Exeter last year, it wasn’t the £650 a month rent that really irked him – but the £800 in fees demanded by the letting agent, part of Britain’s biggest agency, Countrywide. Countrywide’s local agent in Exeter expected the tenant to pay £360 as a “tenancy fee”, £90 for “admin”, £60 for “referencing”, £90 for the “check-in”, £90 for a “guarantor” and £120 for the “deed of guarantee”. He chose not to move in at the weekend; if he had there would be a further £72 for “Saturday check-in”. All this was on top of the deposit, which meant that he would have to cough up £2,300 before getting his hands on the keys to the flat. Continue reading…

Source : theguardian.com
Read more…Will rents go up if unfair letting fees are banned?

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