Letting agent extras to ask about before you sign
The headline percentage isn't the whole bill. These are the extras that turned up most on North East fee pages:
- Tenancy agreement fee: often £120 to £354, charged on each new let by some agents.
- Renewal or extension: from nothing to £300 when a tenancy is renewed.
- Inventory and check out: £100 to £600 depending on size, sometimes included in full management.
- Repairs commission: 10% to 20% on top of contractor invoices, or a fee for arranging works.
- Deposit registration: a one off or yearly fee for protecting the tenant's deposit.
- Withdrawal or termination fees: if you leave the agent or pull out before a tenant moves in.
- Monthly compliance or admin charges: a few pounds a month that add up over a year.
Questions to ask before you sign
- Is VAT included in every figure?
- What do I pay when a tenant renews, and when a new tenant moves in?
- Do you add commission to repair invoices?
- What does it cost to leave, and how much notice do I give?
Fees change. Always check the agent's own fee page before you sign.