easyProperty says it’s backing a Labour MP’s bid to cap letting agents‘ fees on tenants “in order to provide a more transparent and fair service to tenants throughout the UK.”
On Wednesday Labour MP Helen Hayes presented a petition to the House of Commons calling for the ban; it had a rather modest 1,480 signatures.
Now easyProperty chief executive Rob Ellice says his agency has conducted a survey of 1,000 tenants revealing that 51.4 believed letting fees were extortionate and a further 39 per cent believed they were merely ‘expensive’.
“So with 90 per cent of private renters unhappy with the fees they are charged it’s time we introduced measures to cap letting agents’ fees to either £100 for administration or 0.1 per cent of the deposit required. Some agents charge up to £420 in administration fees in addition to referencing and check-out charges. If there is a change of tenant, some agents will charge £300 to modify an AST contract, which is hugely disproportionate to the administrative burdened required” claims Ellice.
“For this reason, the only fees our tenants will pay are £49.99 for referencing, if the landlord chooses to do this through us, or £24.99 for a new AST agreement if there is a change of tenant. We believe this pricing is much more reasonable.”
easyProperty charges a £49.99 referencing fee - it uses an external agent to do the work.