Landlords fume at extortionate lettings fees

Sarah Davidson

July 25, 2014

Indeed, of 600 landlords who were surveyed nearly four in five (78%) don’t think such fees are transparent, as nine in 10 report being misled.

A total of 82% use letting agents to find tenants for their properties, with 78% reporting being charged up to 20% of a month’s rent for the service.

Such is the hostile relationship between landlords and letting agents 84% of landlords are trying to find tenants themselves.

Aidan Rushby, chief executive officer at Movebubble, said: “There’s no justification for charging landlords such high fees for filling a property, especially with today’s sharing economy.

“There are free, time-saving services available and letting agents have failed to pass on the benefits of these services to landlords. There’s a better way and we’re happy to provide it.”

Some lettings agents can be accused of not doing their jobs, as signing on fees usually include reference checks, yet of landlords using agents 46% said they weren’t given their tenants’ references.

As many as 12% meanwhile admitted that they have noticed mistakes in their tenancy agreements.

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