Letting Agency Fees - Negotiate on Them
My advice is to look at the contract they present and be prepared to negotiate (or remove altogether) any clauses fees that you might feel are unjustified or excessive.
For example, if a fixed term assured tenancy becomes a periodic tenancy after 6 months then the workload for the agent should be minimal at the 6 month point.
In these circumstances, all that might happen is an exchange of emails between your tenant and your agent to say they wish to stay on. This type of situation would hardly justify a hefty renewal fee.
Neither is a big fee justified for producing a tenancy agreement. These are available from the internet or from landlords associations at little or no cost.
But don’t be mean.
Good letting agents are well worth their fees and will work hard and do unsocial hours on your behalf so be prepared to pay for the work that the agency does when they do it.
In many cases this will mean at least 10% for finding a tenant and at between 3 and 5% for managing them.
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Labels: letting agency fees, letting agent fees, letting fees, letting renewal fees, repeat fees letting
This entry was posted by lettingfocus, on
Wednesday, February 14, 2007.
