Letting Agents On Notice!
Can I just say that this issue is one of my biggest personal gripes. Even after 5 years of working in estate agency for various companies I have always asked myself why our administration fees, end of tenancy fees and renewal fees were always so steep and whether they were truly justified? To my amazement applicants would never really challenge these random fees that we would instate as they assumed that as every other agent was doing the same it had to be compulsory; is this one of many estate agents dirty little secrets?
The Scottish government is more than aware of this practice and have suitably banned all letting agents from being able to charge additional fees apart from the rent of the property and an agreed security deposit. Perhaps predictably this has led to letting agents being up in arms at the thought that their profit margins are being squeezed and have fired back suggesting that rental rates would have to increase to make up the difference; not a cynical move at all!