Tuesday, 2 June 2015

Letting Agents Hit Tenants with ‘Reservation’ Fees

They have been creeping into the residential sales market for some time, so it may come as no surprise they are now hitting the lettings sector: upfront reservation fees that tenants are being asked to pay for their application for a property to be processed.  Guardian Money has been contacted by one couple trying to rent a house in the Midlands, who are furious after being forced to hand over a £250 reservation fee to a local lettings agent Northwood. Thinking this had secured the property subject to the usual checks, they later learned that the agent had also taken a reservation fee from another potential tenant. They were told it would then be up to the landlord to decide who they wanted to rent to. Read more on the Guardian website.

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