Common letting agent myths
It’s common for a letting agent to get bad press. Here, we look at dispelling the myths and looking at why good letting agents are worth their salt (and your money).
A letting agent or landlord can keep a tenant’s deposit
Deposits have always been a contentious issue. And, in previous times not so honest landlords or letting agents would have held onto deposits. Previously, there was a lot of controversy over how much repairs cost and what money was held back at the end of a tenancy. In April 2007, the UK government brought in the DPS scheme where landlords by law, must safely place the money in a deposit scheme. If there are any end of tenancy issues, these are managed impartially and receipts for work must be provided. The landlord or letting agent must protect your deposit within 14 days, and it is the DPS that decides how much you get back.
There are lots of hidden fees
False, all fees are now made clear to tenants from the outset. The UK government banned letting agent fees for new or renewed tenancy agreements from the 1st June 2019. The aim of this was to reduce the costs that tenants face from the outset of a tenancy. try to ensure any chargeable fees are broken down and detailed from the outset. Not only does this keep things simple and transparent, it also helps renters save more money from the outset.
All letting agents are the same
Thankfully this is most definitely not true. Basically, all letting agents must abide by legislations and law, but each one has its own set of standards. Some letting agents will be more personable, and communication is thorough and clear. Nevertheless, going by recommendation or reviews helps when deciding which letting agent to go with. Always make sure they hold the correct accreditations, and see what people are saying about them online.