Home » News » Agencies & People » New report lifts lid on what landlords think about letting agents
Agencies & People

New report lifts lid on what landlords think about letting agents

Research by Total Landlord Insurance suggests reveals views about service quality, fees, unexplained deductions and late rent payments.

Nigel Lewis

unhappy landlords

New research has revealed the shocking views of landlords about their letting agents including that 42% think they charge too much.

These candid views have been published by industry insurance broker Total Landlord Insurance.

The boss of parent company Hamilton Fraser, Eddie Hooker, says he is ‘not surprised’ by the results of the research among some 1,200 landlords.

This includes how 56% are happy with their agent’s service, 57% believe the fees they are charged by their letting agent are fair, 42% believe agents charge too much, and just one per cent believe that they should be charged more.

Late rent

Just over 60% said they had never experienced a late rental payment, but only 5% experienced late payment of their rental income because of their letting agent. But 16% said their agent had made unexpected deductions to this rental income without discussing why before doing so.

The most common reason was for maintenance work on the property carried out by the agent’s contractors, with additional management fees, a gas certificate, electrical safety checks and tenant finding fees also ranking high.

Link to Tenant Deposit feature

“Fees are always going to be a contentious issue, especially in the current climate, with many landlords still struggling financially from the impact of COVID on their tenants and added to this, now the cost of living crisis,” says Hooker (pictured).

“Many landlords have unfortunately had to foot the bill. However, while some landlords may feel that the fees charged by their letting agent are too high, this survey shows that the majority do believe they pay a fair price.”

June 6, 2022

What's your opinion?

Please note: This is a site for professional discussion. Comments will carry your full name and company.

This site uses Akismet to reduce spam. Learn how your comment data is processed.