Landlords 'should be wary of cheap letting agents'

News Category: Management

Strong levels of demand for rental properties in the UK mean that many letting agents are slashing the fees they charge landlords.

However, letting specialist Leaders has warned landlords that the cheapest deals are not always the best when it comes to letting agents.

The firm's managing director, Paul Weller, explained: "Landlords should be aware when choosing a letting agent that you get what you pay for in terms of service and professionalism.

"Half-price fees could result in a second-rate service, and worse, in the agent not having the funds to deliver any service at all."

Mr Weller added that letting agents had to do more than simply advertise properties to justify the fees they charge landlords.

He said that knowledgeable and well-trained staff were a must, as is a system to vet prospective tenants.

"Of course landlords will naturally want to keep their costs down and will be looking for a competitive rate," Mr Weller concluded.

"However, landlords paying exceptionally low fees face the risk of receiving a poor service - with some or all of the above being neglected - which could lead to serious problems."