NLA claims victory over estate agents
Wed 27th Feb, 12:17:20 GMT
The National Landlords'' Association (NLA) is claiming a victory over estate agents who charge landlords "extortionate" renewal fees.
The organisation has highlighted the problems faced by many landlords who are charged up to 11 per cent of their annual rent just to renew a tenancy agreement.
Officials at the NLA have argued that estate agents are making money from the "unfair" fees, which they think should be scrapped.
Now the Office of Fair Trading (OFT) has stepped into the row and has issued High Court proceedings against a leading highstreet estate agent.
"The NLA has been pivotal at encouraging landlords to come forward and complain about these ''money for nothing'' fees which seem to have become the norm in London and the surrounding region," said John Socha, vice president of the NLA.
"We very much welcome the OFT''s decision to seek an injunction in this case and hope this sends out a signal that this fee, where the agent has done nothing to earn it, is unwarranted and unfair and should be abolished as soon as possible," he added.
The organisation has highlighted the problems faced by many landlords who are charged up to 11 per cent of their annual rent just to renew a tenancy agreement.
Officials at the NLA have argued that estate agents are making money from the "unfair" fees, which they think should be scrapped.
Now the Office of Fair Trading (OFT) has stepped into the row and has issued High Court proceedings against a leading highstreet estate agent.
"The NLA has been pivotal at encouraging landlords to come forward and complain about these ''money for nothing'' fees which seem to have become the norm in London and the surrounding region," said John Socha, vice president of the NLA.
"We very much welcome the OFT''s decision to seek an injunction in this case and hope this sends out a signal that this fee, where the agent has done nothing to earn it, is unwarranted and unfair and should be abolished as soon as possible," he added.
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