Letting Agent Fees Become Tenant’s Number 1 Gripe

06 August 2012 Categories: News

Letting Agent Fees Become Tenant’s Number 1 Gripe

Upad, the online self-service letting agent, recently conducted a survey across the UK that asked tenants about their main gripes concerning their rental property, or the process of renting in general…and it seems that letting agent fees come top of the charts.

The survey also showed that high deposits and the worry of not having them returned were also concerns felt by a large number of respondents.

The results of the survey showed that 73% of the tenants that took part had gone through a letting agent when renting the property they were currently inhabiting. Of this number, 93% admitted that they considered the fees charged by letting agents in general to be higher than necessary, while 79% said they didn’t feel they had received a level of service that warranted the fees they had paid.

A significant number of tenants (although Upad haven’t specified exactly how many) said that they had paid close to £5000 to move into their rental property, not including the first month’s rent or deposit, while others said that they were forced to pay a 12-months or longer deposit in order to secure the property of their choice. One respondent even admitted to paying a staggering £444 for a reference check that took weeks to come back.

And then the high-street letting agents wonder why tenants are turning to online sites such as Upad when looking for a new property.