Lettings Agency Fee’s

Since 27th May 2015 it has been a legal requirement that all letting agents must publish full details of their fees and charges. Ours can be found here for Landlords and here for tenants. Letting agents must publish full details of their fees and charges on their websites and prominently display them in all their offices where they deal face to face with customers.

However, some letting agents’ websites do not make it easy for you to see the fees they are charging. Aside from the usual, expected, costs, there may also be other hidden charges that landlords and tenants may not be aware of. The description of what each fee covers and how it is calculated must be clear so you can understand the service and costs covered.

If a letting agent doesn’t show its fees or make them clear you can contact the local council who are responsible for enforcement with fines on the agent of up to £5,000.

Amy Andrew from This is Money spoke to experts at Shelter and easyProperty to find out more about fees so landlords and tenants have the information they need to avoid being overcharged letting agent’s fees. The full article on the Daily Mail website can be read here

We carried out some local research and were surprised by what we found. We typed into google “moston letting agent” and took a look at the first 20 agents website that appeared – we ignored zoopla, on the market, rightmove etc etc and just looked at the websites for our 19 most local competitors (we were the extra one)

Of the 20 agents operating in this area a staggering 13 of them, that’s 65%, have NOT published any of their fee’s on their website, despite it being a legal requirement and them being liable for a £5000 fine.

fees1

If an agent is not publishing their fee’s, as they have been told to do, are they being lazy, ignorant or are they wilfully ignoring the law?

Whichever the three scenario’s, would you be happy leaving your property in the hands of an agent who is guilty of any of the above sins? I wouldnt!

In terms of fee’s, we could obviously only take a small sample of data, as so many agents have chosen not to publish their fees. But of the 7 local agents we found, we first looked at their Let Only Fee’s.

To make the comparisons fair we added up all the additional costs lurking around so each agent was offering for a 2 bed property at £550pcm:

  • Marketing & Advertising
  • Tenant Find
  • Tenant Referencing
  • Deposit Collections and Protection
  • Drawing Up Tenancy Agreement
  • Move in Inventory

Our fee for this basic service is £300 inc VAT below are all the fee’s we found:

fees2

As you can see fee’s range from £300 upto £660 for this single service. We didn’t inflate figures or stretch ourselves down to London to try and shock, all these agents are operating within a couple of miles of our office and these are the fee’s they are charging you just for a simple Let Only Service.

Completing the same exercise for a managed property was a little more complex, but don’t worry, we did it for you.

Sadly when looking further into FULL fee’s we lost another four of our agents, pushing our total of non compliance to the law to a whopping 85% of local agents have no published full fee’s for their landlords.

How did we lose 4 more agents to make this 85%? They were not publishing FULL fee’s, its all good saying what your setup and your commission fee are, but why aren’t the agents publishing their routine maintenance costs, gas safety, epc, electrical inspections etc? How can a landlord compare like with like, when there is so much secrecy?

Again, ask yourself why aren’t these agents publishing their fees? Is it ignorance of their legal obligations? Is it that they don’t want you to know their fees? Or is it simply that they cannot be bothered to update their website? Whatever the reason, do you want to work with these agents who are either lazy, ignorant or downright unlawful?

Our four remaining agents now went head to head with each other looking at total expected fee’s over the course of 12 months on a 2 bed property fetching £550pcm and having all its annual checks. here are our overall results:

fees4

There isnt a great difference between the 3 agents in terms of costing over the year, the difference in rates is about 9% – but thats only from the 3 agents out of 20 who actually published full rates, in accordance with the law. If we get the time to snoop around further it would be really interesting to find out what the real variety in fees is around Moston and East Manchester.

fees5

We obviously cannot publish the names of the agents who are not complying to legal requirements and any updates we receive we will endeavour to use to keep this information accurate.

What are your thoughts on this?

We Now Accept Online Rent Payments

There are many advantages to renting your home via Brentwood Lettings. We pride ourselves on being a specialist lettings agency, focused on providing the best quality service to both our tenants and our landlords and passionate about property.

Our properties are spread all across North and East Manchester and our friendly team at our base in Moston work hard to ensure that everything in your property runs smoothly. Our latest addition to our new website is our Pay Rent Online Page.

Our new and improved website is not only a showcase for our rental properties, it is our chance to remain engaged with both our tenants and our landlords, and another medium through which we can provide excellent customer service.

Over recent months you may have noticed that we’ve made many changes to the look and feel of our website. We are working hard to implement positive changes based on the feedback of both our landlords and our tenants. Our website is updated daily with new properties, we aim to respond to all website enquiries within one working day, we have made our website more accessible for mobile and tablet users and we have created a place for tenants to report faults/repairs.

Now our latest addition to the website is our Pay Rent Online Page. This page does as it says on the tin, it allows tenants to make rent payments via our website. It has been a much requested feature and we are proudly the first local and independent lettings agency to have implemented this ability.

All payments are securely handled by our payment partner, WorldPay, and our simple and straightforward payment process means that you can keep on top of your rent payments from your laptop, your tablet and even from your phone.

You can pay your rent directly to Brentwood Lettings via our website. See our Pay Rent Online Page to pay. We are dedicated to providing first class customer service to all of our landlords and tenants and we are always open to suggestions on how we can improve our service to you. If you have a suggestion or an idea, please feel free to Contact Us and let us know

New Moston Rentals 2014

Each week we aim to feature properties in a particular area. This week we are taking a look at New Moston and our currently available properties to rent in the area.

 


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New Moston is about five miles north east of the city centre. It’s based around Hollinwood Avenue and its junctions with Lighbowne Road and Broadway – major routes to the north.

There’s a large Morrisons supermarket and smaller shops on Hollinwood Avenue, and local shops and services like health centres, post offices, banks and building societies within easy reach on Moston Lane East, Lightbowne Road and Moston Lane.

There’s good public transport, with frequent buses along Lightbowne Road and Broadway to the city centre and Oldham, and along Victoria Avenue to Middleton. It is also close to Moston Metrolink station which opened in 2012.

Our most popular property this month in New Moston was a large 2 bedroom terraced home, suitable for a family. This property is now under offer, however check out our links for more properties coming up in this area.

Demand for properties in New Moston is high, and Brentwood Lettings are the perfect resource for both landlords and tenants looking to rent property in New Moston. As a local lettings agent, situated in Moston we have expert local knowledge and contacts and can guide you every step of the way to successfully renting a property in New Moston.

New Moston is becoming a popular area to both live and work in North Manchester and Brentwood Lettings can usually find tenants for a property in New Moston in around 7-10 days.

Brentwood Lettings let and manage a number of properties in New Moston and are actively seeking new properties to add to our books.  If you are looking for a property to rent in New Moston or you have a property in New Moston and you are looking for a good local lettings agent. Contact Us today and we will help you out.

 

Click here to see our latest New Moston rentals

Greenheys Road

**Newly Decorated** Brentwood Lettings are pleased to present this 2 bedroom garden terrace property to rent in…

Price: £ 520.00 pcm

Ashworth Street

**STUNNING REFURBISHED FAMILY HOME** Brentwood Lettings are pleased to offer this 3 bedroom semi detached property to…

Price: £ 700.00 pcm

Holmfield Avenue

**DHSS Welcome** Brentwod Lettings are pleased to offer this spacious 2 bedroom property to rent in Moston.…

Price: £ 550.00 pcm

Hopwood Street

Brentwood Lettings are pleased to offer this well presented 2 bedroom, semi detatched, new build property situated…

Price: £ 650.00 pcm
Featured

Lancaster House

** FULLY FURNISHED APARTMENT** Brentwood Lettings are pleased to offer this newly renovated 2nd floor apartment in…

Price: £ 950.00 pcm

Quilter Grove

Brentwood Lettings are pleased to offer this spacious 2 bedroom property to rent in the popular area…

Price: £ 550.00 pcm

Rowley Street

Brentwood Lettings are pleased to offer this 2 bedroom end terrace property to rent in Ashton-under-Lyne. The…

Price: £ 525.00 pcm
Featured

Abbey Hey Lane

** Stunning 4 Bedroom Family Home** Brentwood Lettings are pleased to present this NEWLY REFURBISHED 4 bedroom…

Price: £ 825.00 pcm

Holgate Street

Brentwood Lettings are pleased to offer this 2 bedroom property to rent in Great Harwood.Ideally located close…

Price: £ 450.00 pcm

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