PropertyHawk outlines some of the key factors that make letting agents a total rip off.

1. The amount of commission being charged for a let only service. The cost of providing this service could be as little as a couple of hundred pounds, yet frequently landlords are charged a percentage of total annual rental income.

2. The over supply of some rental accommodation is causing many landlords to suffer extended periods of voids.

3. Letting agents, particularly those on a let only fee will often be ‘desperate’ to get a tenant in so that they can collect their fees. This will often be at the expense of the quality of the tenant.

4. Charging a tenancy renewal fee – one of the clearest rip-offs be letting agents.

Read the full article from PropertyHawk here: Letting Agents – A Rip Off?