Fee transparency a must for all reputable letting agents

Fri 30 Oct 2015

Transparency should be a priority for all letting agents when it comes to making the public aware of their fees.

Local property specialist Leaders has been displaying its fees in full in each of its branches and online since before this was made a legal requirement by parliament in May. The company is delighted with the introduction of regulations that mean this is now a legal requirement for all agents.

Jane Wilkinson, Leaders’ lettings director for Sussex, says: “It is important that both tenants and landlords are able to quickly and easily view and understand the fees they will be charged when using a professional letting agent. There should never be a hidden cost to letting or renting - and if there is, people should be wary of using the company in question.

“As such, we were pleased the government opted to act by making this a legal requirement earlier this year. However, not all agents have taken the same proactive approach as Leaders to this matter, and some continue to flout the regulations by failing to display their fees.”

Jane has previously been recognised by the Brighton and Hove Estate Agents Association for improving standards within the city’s lettings market and Leaders has been a long-term advocate of increased regulation within the lettings industry.

“The best advice I can give landlords and tenants looking to let or rent a property is to ask to see an agent’s fees. A reputable agent should be able to point to these either on the wall or in a handy leaflet,” Jane advises.

“Transparency is of paramount importance and we would like to see more agents follow Leaders in ensuring their fees are adequately displayed.”

Leaders is also a fully bonded member of the Association of Residential Letting Agents - an organisation the company’s founder, Neville Lee OBE, helped to set up more than 30 years ago.

For advice you can trust on all aspects of letting, please contact your local Leaders branch today.

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