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Letting Agents Now Have to Show Fees On Property Adverts

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Letting Agents Told To Show Fees When Advertising Online

Great news for landlords and tenants as the new ruling on 1st November by the Advertising Standards Authority (ASA) means that Letting Agents and private landlords must display their non-optional fees in their property adverts for properties to let.

This means that tenants will now be able to see instantly how much it will be to use that letting agent (or private landlord) including any:

  • Registartion fee
  • Credit Check fee
  • Admin fee
  • Resigning fee
  • Referencing fee
  • Basically any FEE that is incurred from start to finish of the tenancy.

Amanda Whaley from Private Landlord Directory says ” this is a much needed and massive step forward to bringing more clarity, honesty and openness into the private rented sector PRS). I have heard so many reports from tenants who claim never to have been told the FULL SCALE of charges when first applying for a rented property, especially re-signing fees and fees to give tenant references.”

You will see that many of the online letting agents have already changed their listings and it makes interesting reading in the list of fees and the comparison from South to North. Some letting agents have put up a disclaimer whilst others are putting up a list of fees but no prices.  (examples below)

Disclaimer

Administration fees may apply when renting a property in England, Wales or Northern Ireland. For more details, please contact the agent.

 

From Friday 1st November 2013, Committee of Advertising Practice (CAP) will consider appropriate follow-up action against advertisers who aren’t sticking to the rules of advertising their fees. If you feel you are being mislead or the fees are not available along with the property details you can contact CAP directly at http://www.cap.org.uk

If you would like to see the guidelines that have been issued by CAP then please follow Guidelines for displaying fees

Whilst this ruling stands out as though it applies only to letting agents this is not the case, it also applies to private landlords that are advertising online. Being up-front about charges not only gives tenants a fair deal it also has the knock on effect of being good for business and the reputation of the sector as a whole.

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Category : Blog &Landlords &Letting Agents &Private Landords &Tenants

What do you look for in a rented property?

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Tenants, what is important to you when renting a property?

As a private landlord, I do ask questions of tenants and one of those questions is .. what is at the top of your wanted list when looking for a property?

When searching on the Internet what boxes do you tick?

  • Cost of Rent
  • What is on your requirements list?Deposit
  • Location to amenities
  • Number of bedrooms
  • GSH
  • Combi Boiler
  • DB
  • Parking
  • Reference Fees

When searching for a property, you are usually initially searching for a postcode area or town and then you select a radius search on that town. You can then  select rent cost. You are not asked about deposit or LHA . Amanda Whaley from Private Landlord Directory says ” on our website we ask the landlords to fill in as much detail about the property as possible. These fields include, rent, deposit, referencing fees and whether the landlord will accept LHA tenants”

Amanda goes on to say ” We believe that all costs involved with renting a property should be highlighted upfront, so that the tenant is fully aware how much money they need to get together in order to move. There is no point in wasting the landlords or the tenants time if the deposit and reference costs are outside of the tenants budget.”

The question that tenants are faced with is.. do you rent a property which is slightly cheaper and fore-go parking or utility efficiency? Many properties that are slightly cheaper are lacking in some feature that is required by most tenants. Example, you may find a property is slightly cheaper as the heating is storage heating which is more expensive to run in the long run especially over winter.

The increase in the supply of rented properties has certainly lead to the tenants having more of a choice in what property to rent but it will never change for the people who have little choice due to having no deposits and who are on LHA.

 

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Category : Blog &Landlords &landlords accepting LHA &Private Landords &Tenants

Looking for a Private Landlord?

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Looking for a Private Landlord? Private Landlord Directory has just what you needLooking  for a Private Landlord?

Then look no further as Private Landlord Directory is full of them.

Search the properties that are available on the directory and request the Private Landlords details.

Tenants register for FREE and get the direct contact telephone number of the Private Landlord

Cutting down on wasting time and money, Private Landlord Directory aims to connect Tenants and Private Landlords is a  quick, no nonsense, get to the point and get to the viewing approach to letting and renting property.

With detailed listings of costs including rent, bond, reference fees along with timescales, local maps and property images. Doing business with Private Landlords on the directory couldn’t be easier.

Register for free today at Find a Private Landlord

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