It’s the question asked by many, many tenants – Why do I have pay so much money to the letting agent to secure a property?
It’s a fair question, and here’s a straightforward answer – other agents charge high tenant fees purely and simply because they can (at the moment).
Whereas other agents have looked at tenant and tenancy administration fees as a source of income, we’ve never believed that it should be like that. We believe that fees charged to tenants should be fair and commensurate with the work, or indeed underlying costs, actually involved.
We think that charging a flat “admin” or “tenancy agreement” fee, sometimes to both the tenant AND the landlord, is just grossly unfair. With technology as it is these days it doesn’t take hours to draft a tenancy agreement, it takes minutes, and sometimes even seconds if an agent has fully embraced technology like Goodlord. These magical (they must be magical because they’re not based in reality) charges of £200, £300 or £400 are under no circumstances justifiable.
With the government seeking to ban tenant letting fees in 2019, you poor old tenants should be in a much better place in the none-to-distant future, but, for now, take some comfort that Proper Local charges amongst the very lowest tenant fees in East London. You can find third party of evidence of this here at www.lettingfees.co.uk
