NLA welcomes proceedings against letting agent
Published: 27-Feb-2008
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The NLA has praised the Office of Fair Trading's (OFT's) decision to issue proceedings against one letting agent.
Issuing high court proceedings against Foxtons, the OFT stated that it has taken action in response to complaints made by consumers about some of the terms contained in the firm's letting agreements.
According to the NLA, it has received a great deal of support for its campaign highlighting "extortionate" renewal fees.
The association noted that a number of landlords in London and the south-east can expect to pay ten per cent to 11 per cent of the annual rent as a renewal commission to their letting agent.
John Socha, vice chairman of the NLA, welcomed the OFT's decision, saying that it hopes seeking an injunction in this particular case "sends out a signal" that such fees are "unwarranted and unfair".
"The NLA has been pivotal at encouraging landlords to come forward and complain about these 'money for nothing' fees which seem to have become the norm in London and the surrounding region," he remarked.
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