Thursday, Jan 29, 2009
"money for old rope".
Telegraph.co.uk: Buy-to-let: Landlords warned to avoid 'unfair' fees
Many landlords in London and the South East are charged fees of around 11pc for renewing properties on a "let only" basis, according to the National Landlords Association (NLA), The organisation called these fees "unfair" as the estate agent did no further work to earn them.
"Over 70pc of landlords consider this renewal fee to be unfair and not a true reflection of the work actually undertaken," the NLA said.
Posted by landedgentry @ 11:23 AM (520 views) Add Comment
4 Comments
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1. hash browne said...
"Over 70pc of landlords consider this renewal fee to be unfair and not a true reflection of the work actually undertaken," the NLA said.
....As opposed to trebling your money in 10 years by simply filling in a BTL mortgage application???
2. 51ck-6-51x said...
source press release
This would be on top of any management fees - this would really eat into anything a landlord actually makes. If I were in the brigade this would have easily been enough to encourage me to manage my own tenancies! It also sounds very arbitragabe to me (cost of renewal must be _much_ lower than the charge) so shouldn't exist with the number of competing agencies out there... anyone know if it's really true?
3. a saver said...
Don't get me started on how these management companies rip you off.
Like many other people, I let my house while working on contracts abroad. That's why I don't have a house now. Despite forking out a fortune on repairs every year, it got trashed to the point where I had to sell it -in 1999.
Not all landlords are greedy, I just wanted a home to come back to.
4. need-a-crash said...
Well BTL would know all about making money for nothing! What goes around comes around BTL scum - live with it!!