New report finds large degree of dissatisfaction amongst tenants

on Mar 9, 2015
Updated: Oct 20, 2019
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A new report by rental accommodation specialists propertyletbyus.com has revealed that tenants feel they are being ripped off by landlords and letting agencies. In particular the report found that tenants felt unfairly treated with regard to fees that had to be paid at the start of tenancy agreements. A large number of tenants surveyed also felt they were subject to unfair treatment during their tenancy agreement.

The study showed that 65 percent of tenants believed they had been charged unreasonable fees and a further 73 percent said there had been unreasonable deductions from their deposit at the end of their agreement, while one in six tenants complained about unreasonable rent rises.
“There are a few agents charging excessive fees, but the ASA ruling in 2014 has made the industry much more transparent with charges. However, there is more that the industry could do to educate tenants on how fees are charged and for what,” said PropertyLetByUs managing director Jane Morris.

“Honest and open communication with tenants is key for both landlords and agents. If all fees and charges are explained to tenants, they are more likely to be comfortable with them.”
This perceived unfair treatment of tenants by landlords and agencies comes as other recent studies show that it is now more expensive to rent than to have a mortgage.
According to a Buying vs Renting review recently released by Halifax, first time buyers are now £742 better off annually than those who rent.
So despite the claim of increased transparency, many tenants are likely remain unconvinced that rents and fees are reasonable, especially given that the level of rent that is currently being paid to landlords is higher than ever, with many landlords enjoying a steady stream of rental income as housing shortages and high house prices force people into rented accommodation.

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