{"id":17668,"date":"2016-06-25T13:00:06","date_gmt":"2016-06-25T06:00:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-time-to-end-the-great-letting-agency-rip-off-in-england-and-wales\/"},"modified":"2016-06-25T13:03:19","modified_gmt":"2016-06-25T06:03:19","slug":"its-time-to-end-the-great-letting-agency-rip-off-in-england-and-wales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-time-to-end-the-great-letting-agency-rip-off-in-england-and-wales\/","title":{"rendered":"It\u2019s time to end the great letting agency rip-off in England and Wales"},"content":{"rendered":"


\nNothing infuriates Generation Rent more than high fees charged by agentsThe letting agency business is a highly profitable one. Each one of the agents for Foxtons who spin around London in their Vauxhall Adams (those branded Minis are very last year) rake in an average revenue for their company of \u00a3113,000 a year. The profit margin on lettings at the company is a juicy 30%. Other letting agents enjoy similarly wide margins: LSL Property Services, the UK\u2019s biggest independent chain, with brands such as Your Move and Marsh & Parsons, saw its lettings revenue grow 12% in both 2014 and 2015, much faster than other parts of the business. And unlike the feast and famine world of house sales, revenue from lettings is far more stable.But nothing infuriates Generation Rent more than eye-watering fees charged by agents. You can be charged \u00a360 or more for a credit check, which costs the firm doing it little more than \u00a35. The renewal fee can be as high as \u00a3300, when it amounts to little more than printing off a contract to sign. And usually at renewal the agent pushes through a rent rise. Continue reading…
\n
\nSource : theguardian.com
\nRead more…It\u2019s time to end the great letting agency rip-off in England and Wales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nothing infuriates Generation Rent more than high fees charged by agentsThe letting agency business is...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-17668","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4AY","jetpack-related-posts":[{"id":9188,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/if-lettings-agents-are-disclosing-fees-i-cant-see-them\/","url_meta":{"origin":17668,"position":0},"title":"If lettings agents are disclosing fees, I can\u2019t see them","date":"March 26, 2016","format":false,"excerpt":"\r Nearly a year after the government pledged to force agents to disclose charges prominently, we check their websites to see if this is happeningNearly a year ago a new \u201ccrackdown\u201d on hidden charges by letting agents in England and Wales came into force. The government stepped back from banning\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71100,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homerenter-website-promises-to-cut-out-uk-letting-agency-fees\/","url_meta":{"origin":17668,"position":1},"title":"HomeRenter website promises to cut out UK letting agency fees","date":"November 7, 2017","format":false,"excerpt":"\r HomeRenter, a new British online property lettings website backed by newspaper publisher Trinity Mirror is to be launched on Monday, offering to cut out the role of traditional letting agents and the hefty fees they levy on tenants. These fees, which go towards the cost of conducting viewings, verifying\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23339,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landlords-hmrc-is-closing-in-on-your-undeclared-lettings-income\/","url_meta":{"origin":17668,"position":2},"title":"Landlords \u2013 HMRC is closing in on your undeclared lettings income","date":"March 15, 2014","format":false,"excerpt":"\r The Revenue is on the trail of \u00a3550m missing tax \u2013 and is urging landlords to come clean, or risk higher penaltiesLandlords who have failed to declare their rental earnings to HMRC are being warned to pay up or face higher penalties.The Revenue is targeting widespread tax evasion on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71324,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-tenants-fees-bill-doesnt-go-far-enough-letters\/","url_meta":{"origin":17668,"position":3},"title":"The tenants fees bill doesn\u2019t go far enough | Letters","date":"November 9, 2017","format":false,"excerpt":"\r Britain needs longer tenancies and caps on rent increases, writes Tom Copley, Labour\u2019s London assembly housing spokespersonAs recently as 2015 the government strongly opposed banning lettings agency fees for tenants, so its decision to publish the draft tenants fees bill is a welcome U-turn.By the end of the decade,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36048,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-banning-letting-agency-fees-lead-to-higher-rents-we-ask-the-experts\/","url_meta":{"origin":17668,"position":4},"title":"Will banning letting agency fees lead to higher rents? We ask the experts","date":"November 26, 2016","format":false,"excerpt":"\r With England joining Scotland in outlawing extra charges for tenants, opinion is split on what the effect will beSo will the ban on lettings agents charging fees to tenants push rents up? That\u2019s the question many renters will be asking after the government\u2019s autumn statement announcement.The good news is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109852,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landmark-verdict-over-letting-agency-that-posed-as-a-club\/","url_meta":{"origin":17668,"position":5},"title":"Landmark verdict over letting agency that posed as a club","date":"August 13, 2019","format":false,"excerpt":"\r \u00a342,273 fine marks a \u2018major victory\u2019 for all private tenantsA lettings agency that posed as a membership club to dodge tenancy laws has been fined more than \u00a340,000 in the first prosecution of its kind in the UK.Lifestyle Club Ltd pressured tenants to sign a contract without inspecting the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/17668"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=17668"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/17668\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=17668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=17668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=17668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}