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Landlords in London and South East of England paying unfair renewal fees

According to the The National Landlords Association they face paying unfair renewal fees of around 11%.

Some less scrupulous agents are charging 'money for nothing for renewing properties on a let only basis. Most landlords consider this renewal fee to be unfair and not a true reflection of the work actually undertaken, the organisation said.

It is a regional anomaly, being a problem unique to London and the south-east, as most letting agents in other areas of the UK will not make any additional charges for a let only rental property.

So to keep cost downs the NLA is strongly recommending that landlords carefully consider all their options and avoid letting agents who charge this kind of fee.

'If letting agents don't stop charging these money for nothing fees, landlords should avoid using their services, it is as simple as that,' said John Socha, vice chairman of the NLA.

'Landlords get no added value from letting agents on let only deals once a tenant has been secured. Why should they have to pick up the tab just to keep the same tenants?' he added.

He said that it is crucial landlords check the small print of all contracts before they sign on the dotted line. Any clauses which cause concern should be negotiated out of the contract. The NLA would like to see these kind of fees abolished.

'We would like to hear from any letting agent in the region who is willing to commit to scrapping these fees before the law is changed and they are forced to do so,' added Socha.