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Over a third of landlords pay no set-up fee at all to their letting agent - in stark contrast to a small number who pay in excess of £300.

The latest findings from the latest Property Academy Landlord Survey, which questioned 2,948 landlords, show that 35 per cent paid no fee whatsoever. Some 17 per cent paid a fee of £99 or less, while 30 per cent paid between £100 and £199.

A fifth of all landlords paid more, however - some 11 per cent paying between £200 and £299 and eight per cent paying no less than £300 or above.

Just over half of all landlords negotiated with letting agents over their commissions, which showed high levels of variation according to the survey.

Of landlords who use agents only for tenant-finding and rent collection services, agents' fees vary from one to 15 per cent, but with most around seven to 10 per cent.

Of landlords who use agents for tenant-finding and then full management, figures show a similar variation but the vast majority of landlords pay between nine and 12 per cent.

Comments

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    Agreed it has to be outside London - it would be interesting to see any correlation between Landlords' set up charges and Tenants' Application fees. We all know how much work is involved in finding the right tenant and correctly setting up a tenancy. We can't afford to be greedy down here in the SW. but none of us like working for nothing!.

    • 28 August 2014 08:40 AM
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    Interesting to hear from other agents. We charge 400 set up fee inc. vat then 8% per month fully managed again inc. vat. We're based in Reading and are considered a fair bit cheaper than our competitors, although we have done away with an expensive high street shop and work from home.

    • 27 August 2014 15:18 PM
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    We are Luton Based agent and never ask landlord for tenant finding fee in case of Management of the property.We only charge 10% pm commission.We provide complete management with first year gas safety certificate free.
    We charge only 10 days which is not less than 200 in case of just to let

    • 27 August 2014 10:02 AM
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    I take it none of the landlords questioned were anywhere near London or surrounding boroughs!

    We charge 8% let only, with average rents on a Studio around 675-700pcm at the moment , the smallest fee we get is 324.

    • 27 August 2014 08:20 AM
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