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Tenancy Renewal Fees Investigated BY BBC Watchdog

The issue of unfair tenancy renewal contracts that many private landlords complain about has been investigated by the BBC Watchdog TV programme. Watchdog contacted 50 letting agents in the UK to compare what each agency charged landlords for tenancy renewals. Of the 50 letting agents only 15 charged a flat renewal fee of between £25 and £150 pounds per tenant. The majority of letting agents charged a renewal fee as percentage of total revenue under the tenancy agreement.

Click Here For Renewal Fees Legal Challenge Article

One example of over charging was London based letting agency Foxtons. Foxtons charged one particular private landlord 11% upfront. Other letting agencies charge up to 12.5% commission for tenancy renewals and many landlords are unhappy about tenancy renewal fees as they do not represent any reflection of work done by letting agents after a tenant has been found to occupy a property in the first year.

Linked Articles:

OFT Vs Foxtons - Case Update
Letting Agents Face Legal Challenge Over Fees
OFT To Sue Foxtons Over Unfair Tenancy Charges and Contracts
Letting Agency Fees Reduce Landlords Profits

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