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TODAY'S OTHER NEWS

High fees are landlords’ ‘biggest gripe’ with letting agents

High fees are the most common dissatisfaction for landlords using letting agents, according to a survey.

Online agency Rentify surveyed 500 landlords, some 71% of which said that they felt letting agents’ fees were too high.

Other concerns raised by the landlords surveyed referenced ‘poor customer service’, with 33% of respondents saying they struggle with some agents’ 9-5 working hours. 

Insufficient tenant referencing and inaccurate property valuations were also cited as problems by over 20% of participants. 

A third of landlords said that it took more than 48 hours for their property to be listed after instruction, while 14% said it took longer than 72 hours.

Some 26% of those surveyed said it took on average more than three weeks to occupy their property once listed.

“It's important that people know all the facts when it comes to letting their properties to avoid becoming the star of their own horror stories," says George Spencer, chief executive of Rentify.

  • Daniel Otton

    We see a lot of landlords receiving a sub standard service in our area but it appears landlord don't question it or don't check whether their agent is doing what they said they would. Unfortunately for landlords, there are a lot of very poorly marketed properties around.

  • Kristjan Byfield

    Biggest gripe with people wishing to buy a Ferrari is the price. Interestingly we almost never lose an instruction over fee structure- what clients want is value not cheap. However, choose an agent based on who gives the lowest fee and, surprise surprise, you get bad service. As for valuations, in my experience most agents are accurate with aggressive firms pricing high to Land instructions- clients dont question why one agent says a property is worth 20% more than three others but then complains when it doesnt sell/let quickly.

  • Kenny Sahota

    Not surprised that high fees are at the top of most landlords lists, which is why we like to provide our clients with an honest break-down of our fees, as well as free eviction cover! It's important that landlords spend the time looking for the perfect agent to match their needs.

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  • jeremy clarke

    Can we see the questionnaire presented to these landlords? In over 20 years I do not recall more than a couple of landlords complaining about fees - the key is to explain fees and what they will get for that fee whilst they are in the office!

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