Insurance News Archive

Landlords and tenants 'ripped off by agents fees'

Written by Judith Stevenson

Landlords and tenants are being "ripped off" by letting agents imposing "unjustified and excessive" charges, according to a new report.

The Citizens Advice Bureau is calling on the government to ban additional rates that tenants are being asked to pay on top of their rent, which the charity says are usually for the routine businesses of letting and managing the property.

A survey by the organisation found that 94 per cent of agents impose up to seven additional charges, on top of the tenancy deposit and rent in advance.

"The charges often bear little or no relation to the cost of the work involved and in some cases letting agents appear to make them up as they go along," said David Harker, chief executive of Citizens Advice.

Earlier this month, Tom Entwistle, director of LandlordZONE, said that the regulation of letting agents was necessary as a "substantial minority" of them were operating unprofessionally.

22 May 2009