6 Ways Your Letting Agency is Ripping You Off

Most landlord can say that they’ve had some problems letting out their property. When you pay agency fees, they’re supposed to make things easier for you! However, sometimes this is not the case, and this is why other agencies might leave you feeling short changed. These are the 6 most common ways your letting agency is likely to be ripping you off (and how Ethical Letting can help!)

  1. They charge you tenancy renewal fees

In order to renew a tenancy, the only thing your agency has to do is print out some new papers to be signed. However, most agencies will charge you around £100 (or sometimes even more!) for the privilege. This unfair charge leaves landlords out of pocket for no good reason, and discourages long term lets. Unfortunately this is a standard practice in the industry, but here at Ethical Letting we are breaking the mould. We have never charged tenancy renewal fees, and we never will! We champion long term lets as this minimises your agency fees but also help your tenants to feel more settled and at home – emotionally investing in and caring for your property, as if it’s their own.

2.   You just can’t get a hold of anyone

Sometimes you need to ask your letting agent a question, and there is simply no one to speak to. I’m sure most landlords have spent hours sending email after email after email with no replies, and be still no closer to their answer. We are only a phonecall away to give you friendly, prompt advice any time you need it. We are a friendly bunch who are eager to help, as at Ethical Letting we put the happiness of our landloards, tennants and tradesmen at the heart of everything we do.

3. They don’t treat repairs as a priority

Some agencies can take ages to sort out repairs after they’ve been reported. This leaves you with unhappy tennants who are unlikely to want to stay. They’ll also charge you an average of 10% for these repairs. At Ethical Letting, we have 24 hours a day emergency reporting system in place so that your tennants can get emergencies sorted out at any time. Emergency repairs include blozen glazing, lack of hot water, heating & electricity, fires and leaks. We also charge you 0% of the repairs fee. We also carry out quarterly inspections to catch any problems quickly and nip them in the bud. This leaves you with happier tennants AND more money in your pocket.

4. They leave your property is a bad condition

Have you ever gotten to the end of a lease, gone to inspect your flat, and found that your property has been damaged? In that case, you probably weren’t given adequate compensation. Have you paid for a cleaning fee, and then came to find your property with obvious signs of dirt? Perhaps your inventory wasn’t properly checked and enforced, leaving you to have to pay out and replace missing goods. At Ethical Letting you’ll only ever get your property back perfectly clean, and we’ll cover the cost of repairing damaged goods & replacing anything that’s missing.

5. They can’t find great tenants for you

Some letting agencies will let the first people to show interest move straight into your property. It may also take them quite some time to find any tenants for your property at all. At Ethical Letting, we’re registerred with RightMove, Zoopla and S1 homes in order to give your property maximum exposure to potential tenants. We will then thoroughly vet everyone that’s interested, including background and credit checks,  in order to match you with a likeminded tenant.

6. Their pricing policy is unclear

Have you been hit with an unexpected charge from your letting agency? Many agencies hide behind mumbo jumbo in order to confuse landlords (and tenants!) and mislead them in to paying more money than they originally budgeted for. At Ethical Letting, we provide an above average service for a below average price. Our pricing policy is 100% transparent so you never get shock charges.

pricing policy

Along with charging no tenancy renewal fees, we also do not charge for copy documents (typically £60), registering deposits with the deposit protection service, (typically £50) or void project management (typically 10%).

Ready to join the Ethical Letting family? It really couldn’t be easier. All you have to do is fill out 1 landlord form, sign our terms & conditions, and then sign a consent form from your current letting agent. That’s it! Get in touch today via email at contact@ethicalletting.com or call us on +44 (0) 141 278 7221