Five Questions Landlords Should Ask Their Letting Agent Before Signing Up

Before signing up to any letting agent, landlords should be doing their due diligence into exactly what the agent is offering and how much they are charging. However, with some landlords too busy focusing on the amount of rent the agent is promising to secure, they are overlooking the hidden fees they are signing up to in their rental agreements. 

Hello Neighbour, a PropTech lettings agent that offers cost-effective services, reveals the five questions landlords should be asking their letting agent to avoid paying fees they don’t need to:

 

AVOID RENEWAL FEES

ASK: What fees am I charged if my tenant stays in the property for a second, third or fourth year? 

 

AVOID EXTRA FEES

ASK: What additional fees do you charge on top of the % lettings fee? Do you charge for:

  •       Creating a tenancy contract?
  •       Referencing tenants?
  •       Carrying out Right to Rent checks?
  •       Inventory of property?
  •       Check-in?
  •       Registering the Tenant’s Deposit?
  •       Sending Prescribed information to the tenants?
  •       Checking Smoke and Carbon Monoxide alarms?

 

DON’T PAY EXTRA MAINTENANCE FEES

ASK: Do you charge a fee on top of any maintenance costs for the property or do tradesmen pay you anything when they do the work? If so, how much?

 

DON’T GET LOCKED IN 

ASK: If I am unhappy with the service can I move to another agent for lettings or management agent and does that cost anything?

 

DON’T PAY FEES TILL THE TENANT MOVES IN

ASK: Do I have to pay any fees before the rent gets paid?

 

Landlords should not have to pay any additional fees to let their property. Hello Neighbour only charges a one off fixed fee to the landlord of £1,200 with no additional costs to find and move in a tenant – and no renewal fees.  This means it saves landlords up to 69% of fees compared to traditional high street letting agents.  

The company is already serving over 1,200 landlords, currently letting 200 new properties a month and have let over 2,000 properties across London, Greater London, Brighton, Oxford, Guildford and Reading.