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The problems with letting agent fees

Tessa Shepperson looks more closely at the charges that tenants are being asked to pay and considers whether a total fee ban is the only fair option

18 April 2017

One of the big shocks for the letting agents’ industry last year was the announcement by the chancellor of a ban on letting agent fees paid by tenants. Letting agent fees for tenants have been cause for complaint for a long time. Hapless tenants struggling to find a decent property to rent are often being faced with demands to pay:

  • The first month’s rent;

  • The deposit;

  • A fee to cover the cost of referencing;

  • An ‘admin’ fee for the agents, which generally varies between £100 and £700;

  • An additional fee for the tenancy agreement;

  • The cost of 50 per cent of the inventory clerk’s charge, although this is often charged at the end of t...

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