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Undoubtedly there are plenty of letting agents who are fair,
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honourable and ethical, but at the same time there are also plenty more who are not above over charging for their services in the name of making a profit.
Double Dipping Letting Agents
Major UK insurer, Direct Line, has discovered that some letting agents have been charging tenants and landlords the same fees, so in effect they have been ‘double dipping’.
Direct Line reports that one London letting agent charged a tenant a whopping £90 just to amend the date on a letting agreement. There is also a huge difference between fees charged by different letting agents – as much as 12% in some cases.
Differences in Fees Charged
Inventory costs can vary between £65 and £300, property inspections can cost between £20 and £100, and to ask your letting agent to manage the check-out of a tenant could set you back anywhere from £30 to £125.
Shop Around for a Letting Agent
Whilst the more reputable ones are completely transparent about what they charge, there are some out there who charge ridiculous fees and offer a poor service, too.
“Letting through an agent can take the hassle out of the rental process and provide additional legal protection in the event of an incident, and our research shows it pays to shop around for the best value as charges and services can vary significantly from one agent to another,” says Direct Line.
