NLA: Landlords should avoid letting agent fees
News Category: Industry News
Published: 26-Jan-2009
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The National Landlords Association (NLA) says some letting agents in London and the south-east are charging "money for nothing" renewal fees.
According to the body, some landlords in these regions have faced fees of about 11 per cent when renewing properties to let - and get no extra services in return compared to letting agents who do not levy the charge.
Research by the NLA found that 70 per cent of landlords view such renewal fees as unfair - and that the problem was "unique" to London and the south-east.
"Most letting agents in other areas of the UK will not make any additional charges for a let only rental property," the NLA stated.
John Socha, vice chairman of the NLA, said he would welcome news of letting agents who plan to scrap the fees before new legislation makes this a requirement.
Such fees might prove especially unwelcome given the challenges facing landlords because of the economic climate in 2009.
An NLA poll in December found that 71 per cent of landlords expected to experience difficulties in securing rental income from their tenants this year.
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