Property owners should negotiate renewable fee charges when setting up an agreement with an estate agent, an industry expert has advised.
Tom Entwistle, editor of letting industry website Landlordzone.co.uk, said landlords should carefully study terms with their agents as they will be agreeing to a legal contract.
But he added that all issues, such as renewal fees, are negotiable with the agent supplying the contract before it receives the landlord’s signature.
"You need to read the contract carefully and, where necessary, negotiate on renewals and things like this," Mr Entwistle warned.
He added that some agents like to charge the original fee for setting up a tenancy again upon renewal .
The letting expert’s comments comes after a survey by the National Landlords Association last week revealed that more than 70 per cent of UK landlords believe the renewal fees charged by letting agents for renewing properties on a let-only basis are "unfair".
Some agents in London and the south-east of England were found to be charging fees of around 11 per cent for this type of tenancy renewal .
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Landlords Advised To Negotiate With Agents Over Renewal Fees Wed, 04 Feb 2009
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