Charges on Property Letting

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Politicians Urged to End Unnecessary Charge

Politicians have been challenged to end the “money for old rope” fees charged for rental properties by letting agents.

 

Entrepreneurial couple Jag and Bal Hir, of Find Me a Landlord, based at The Courtyard, Shendish Manor, in Hemel Hempstead, run a campaigning website to rid the rental property market of unnecessary fees for what can be, in simple terms; an introduction.

 

Bal said: “We are sending out a challenge to candidates in this general election to pledge to take action over letting agents who currently charge both landlords and tenants what can be extortionate fees for what is in fact a relatively simple service.”

 

She added that charges to landlords can comprise finder’s fees, itinerary checks, and a percentage of the monthly rent once a tenant is secured. Charges to tenants can consist of the admin fees, referencing and credit check fees, deposit handling fees, fees for the transfer of council tax and fuels bills.

 

She added: “People are squeezed out of home ownership by high prices and the same is happening in the letting market, too. Tenants are often seen as cash cows by an industry which takes advantage of their human desire to have a roof over our heads.”

 

Find Me a Landlord’s aim is to allow landlords and tenants to engage with each other directly through a portal without charges and fees. The couple’s vision is to revolutionise the property rental market for both landlords and tenants by offering a free service via a secure portal.

 

Landlords using the site are able to register details online and upload properties for rental within three categories: social, student and private properties. Landlords upload images of their properties, add descriptions, attach gas, electric and Energy Performance Certificates (EPC’s).

 

The site also allows them to add, edit and amend their portfolio as often they like. Once properties are rented, the landlord can remove the advert from the website, but still hold the property data in the online files.

 

Prospective tenants can browse the site and search via the three specific categories without any restrictions. This service incurs no fee and allows the tenant to view as many properties they wish. Once they find a property of interest they can contact the landlord directly.

 

Landlords using the site should see a reduction in charges and fees, benefit from simple processes and be able to advertise free of charge. They can receive direct tenant contact whilst retaining access to the full management of their property portfolio.

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