Sep 3 2017

Letting agent fees and charges – Shelter England #properties #for #rent

#letting agents

Letting agent fees and charges

A letting agent should provide clear information about its fees, charges and holding deposits before you agree to take up a tenancy.

How letting agents should publicise their fees

All letting agencies must disclose upfront any fees they charge on top of the rent or tenancy deposit. From 27 May 2015, letting agents must publish full details of their fees and charges on their websites and prominently in all their offices.

Letting agents must publish a full list of their fees. The list must clearly show if a fee covers the whole property or if it must be paid by each tenant. The description of each fee must be clear so you can understand the service or costs covered.

The published amount must include any taxes such as VAT. If the amount of a fee isn’t known in advance, the agent’s list must say how the fee is calculated.

Property websites (like Rightmove and Zoopla) are exempt from these requirements, as are local councils helping tenants find private rented homes.

Make a complaint if a letting agent doesn’t comply. The council can fine the agent up to £5000. A national letting agent could face a fine at each office that doesn’t comply.

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