Tenants feel ripped off at the start of a tenancy

The study shows that 65% believe they have been charged unreasonable fees and charges.  A further 73% said they have had unreasonable deductions from their deposit and one in six tenants complained about unreasonable rent rises.

Jane Morris, Managing Director of PropertyLetByUs comments:  “There are a few agents charging excessive fees, but the ASA ruling in 2014 has made the industry much more transparent with charges.  However, there is more that the industry could do to educate tenants on how fees are charged and for what.  Many tenants don’t understand what they are being charged for and why.

Honest and open communication with tenants is key for both landlords and agents. If all fees and charges are explained to tenants, they are more likely to be comfortable them.  

If letting agent fees are banned by a potential labour government, tenants could be faced with higher rents, with the charges being abosorbed.  The bottom line is that essential costs relating to inventories, reference checks and administration have to be carried out before the tenancy can start.  Banning fees will not save tenants cash in the long run.”