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AGENCY FEES

AGENCY FEES

Letting agents in Sutton Coldfield Martin & Co.  are now advertising there tenants fees on handouts on property viewings

 

Recent articles by the Guardian newspaper has said:

 

The ASA said that although the law had not been changed, advertisers would now have to make clear in the quoted rental price if there were compulsory fees and charges.

 

If the fees cannot be calculated in advance because of, for example, an individual's circumstances, then the advertiser must make clear that additional fees and charges have been excluded and provide enough information for the consumer to establish how they will be calculated.

 

Guy Parker, ASA chief executive, said: "Hidden fees are not only unfair, they hit those who are struggling hardest. Our ruling today makes clear that letting agents need to get their houses in order and treat potential tenants fairly."

 

The Association of Residential Lettings Agent say:


"These will vary dependent upon local market conditions and the particular services being provided by the Agent. However, whether dealing with a landlord or a tenant, an Agent should provide clear information on what costs would be incurred, including any potential future financial liabilities to the agent that are reasonably foreseeable and quantifiable."

 

http://www.arla.co.uk/information/tenants/agents-fees/

 

Therefore Martin & co. in Sutton Coldfield and Erdington Letting Agent will display the following

 

Administration £100 per property

Referencing £80 per tenant

 

Discount of £5 per additonal tenant per person

 

Ie: one applicant is £180, two is £250, three is £325.

 

Any questions please call 0121321690