How to achieve a fairer PRS for Landlords, Agents AND Tenants
This week the BBC & Shelter have been renewing calls for an end to letting agency fees, as Shelter’s latest investigations reveal that agency fees could be pushing renters into more debt.
Shelter carried out mystery shopping with 58 letting agencies across the country and found that all of them charged renters fees to set up a tenancy, on top of deposits and rent in advance.
Average fees charged were almost £350, with almost a third of agencies charging renters more than £400 to set up a tenancy, and a further seven charging more than £700.
Separate research commissioned by Shelter also found that :
- 1 in 4 people who have dealt with a letting agency in the last 3 years said they had to borrow money to pay for fees.
- 1 in 6 reported cutting down on food or heating to meet the cost of fees.
- 1 in 4 say that letting fees have stopped them from getting a new home.
Landlord Referencing Services would like to take this opportunity to emphasise that this is why we have recently launched the UK’s 1st “Pay-as-you-go” £4.99(+VAT) tenant reference & £9.99(+VAT) tenant reference.
What with Shelter (and others) petitioning politicians to end letting agency fees charged to renters, including credit check/referencing fees, this is why all letting agents should be using our revolutionary tenant referencing service.
LRS completely understands that Letting Agents need to make money but do not agree that prospective tenants are asked to pay hundreds of pounds in credit check/referencing fees when we have this new referencing service for all Letting Agents in the UK to use – which can be obtained for as little as £4.99(+VAT) a reference.
Therefore Landlordreferencing.co.uk call upon all Letting Agent’s in the UK to use our system in order to achieve a fairer private rented sector for all concerned.
We also call on Landlords (who employ Letting Agents) to inform them about the benefits of joining our “Network Referencing” Community – as it is the landlord who has the power to choose one agency over another, to negotiate the fees charged and to terminate a contract.
Benefits of joining :
No expensive annual membership costs. (LRS is FREE to join)
No upfront purchases of large reference bundles.
No restrictions on referencing. (In order to sell rent guarantee products that may not be wanted or needed)
Personal & professional service for each client.
And if you are a tenant reading this please share this page with your current Landlord and/or Letting Agent, to save your hard earned cash for the next time you apply for a new tenancy.