8:41 AM, 16th April 2013, About 11 years ago 8
Am I the only person in the world who is sick to the back teeth of hearing stories of letting agents charging extortionate fees to tenants? Same goes for poor quality properties.
Either I’m living in a bubble here in Norfolk or something is wrong with these claims.
Very simply, if I were to use the wrong agents and they charged rip off fees I would find it harder to let my properties, my tenants would look for alternatives elsewhere. Surely fees are self regulating? As landlords, it’s important for us to choose letting agents who’s fees make our properties competitive is it not?
If fees charged by letting agents to tenants are not competitive then surely it is the landlord who pays the price, either in void periods or being forced to charge lower rents to be competitive.
If my properties were grotty I’d struggle to find tenants unless I massively discounted the price. If I were to allow my properties to become grotty then surely my tenants would seek alternative accommodation?
My argument is that we don’t need rent capping or more rules and regulations regarding how much can be charged in fees. These factors are best left to market forces in my opinion.
It’s no different to the cost of fuel, a loaf of bread or anything else. If a person selling a product doesn’t get their pricing structure right they will be the ones to lose out in terms of lost custom at the end of the day.
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