UK Money News
10th January 2008
NLA criticises 'unfair agent fees'
Consumers who have invested in the buy-to-let market as a way of finding help with money are likely to welcome this morning's assertion from the National Landlord's Association (NLA).
The body is calling for unfair letting agency fees for renewals to be abolished.
According to the NLA, many landlords in London and the south-east are obliged to pay up to 11 per cent annual rent commission to their letting agent even if they are simply renewing a tenancy agreement.
John Socha, vice-chairman of the NLA, commented: "[It] is totally unacceptable where a letting agent is purely renewing the contract for the next 12 months for the same tenants, that the landlord should pay a ten or 11 per cent commission."
He added that it was "critical" to check the small print of any tenancy agreement before signing it if landlords are to avoid such a personal finance situation.
Earlier this week, the NLA announced the launch of an e-learning programme for landlords to help with money by providing them with a fuller understanding of the sector.
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