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08 February 2013
Early this week my colleague Matthew did a bit of market research in to what our competitors are charging for their administration fees. The results are quite shocking out of 12 other agencies I have provided the highest ones we found, as seen on the right. It is, however, good to see that We Let Properties are the cheapest by a long shot in some cases!
Along with checking if the company provides a good service by looking at reviews on
you should also find out how much everyone is charging and what they are charging for.
We Let Properties
charge £144 for 1 person and £192 for 2 people. They are the only fees we charge before moving in to a property. There are no inventory fees, cleaning fees or check out fees. The only other fee we charge is a renewal fee which is paid on the day that your renew your tenancy and this is £30. Compared to some other agency's £150 renewal fee this is pretty good!
The administration fee pays for the property to be secured and taken off the market; it also pays for the referencing process such as landlord and employment references, the credit report and affordability reports. We feel that the £144 or £192 is a justifiable amount for the work that is needed in the application process but where other companies get such amounts like £354 for 1 person is completely beyond me!
You should do a bit of market comparisons yourself just to make sure you are paying the right money. Whilst you are calling around, just take note on how professional, helpful and knowledgeable the agency's representative is.
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