NLA calls for end of tenancy renewal fees |
10 2008 |
| The National Landlords Association (NLA) has called for the abolition of "unfair" tenancy renewal fees. Under the current rules, landlords who rent out a property through an agent are often required to pay ten per cent of the annual tenancy amount once the initial 12-month lease expires. This can mean that some landlords in the south-east of England are being forced to pay out an extra £1,500 or more, with this cost often being passed on to tenants through higher rental amounts over the year. According to the NLA, which represents around 14,000 landlords within the private sector, such fees are "totally unwarranted". "It is totally unacceptable where a letting agent is purely renewing the contract for the next 12 months for the same tenants, that the landlord should pay a ten per cent or 11 per cent commission," said NLA vice chairman John Socha. "All landlords expect to pay a commission at the beginning of a tenancy, but with rents in London and the southeast topping the tables, another fee of this size is simply unfair."  |
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