Are renters in the UK being ripped off?

Online lettings specialist Upad asked 227 tenants across the UK about their renting concerns and in particular what was the most pressing issue facing them. High deposits and getting them returned was one of the biggest problems named with a proportion of tenants made to pay beyond a 12 months deposit.

Other issues mentioned included
* property maintenance
* pets being allowed into the property
* notice periods.

Renters in London also pointed to high rents, not finding suitable homes to live in and having to earn 2.5 times the annual rent as a minimum as other key problems. “Our findings highlighted some main factors including how lettings agents who traditionally have more control over London’s market are also contributing to the “rip off” with variable fees and significant up-front charges,” said James Davis, CEO of expert lettings specialist Upad.

An additional concern identified in the survey was the role of lettings agents. On a national level, 73% of people rented property from a lettings agent, of which 93% were concerned that they were being charged extortionate fees. Similarly, 79% said that the level of service they received from their agent did not reflect the fees they paid.

When asked how much they paid to move into their current property excluding rent and deposit, a number of tenants revealed that they paid up to £5,000 with 78% stating they had to pay an extra fee on top ranging from £100 to £800.

The survey also showed that 40% of people said that not all the costs of renting were made clear by their agent. One tenant explained that they had not been made aware of the imposed check out fee or obligatory cleaning.

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• http://www.jackmaden.tumblr.com/ Jack Maden

  Hear, hear.
  I have had nothing but awful experiences with landlords / letting agents. I remember when living in a student house our living room ceiling collapsed within a month of moving in. It took them 3 months to get us a new ceiling – and they still attempted to withhold our deposits and charge us an extra 2000 quid when we moved out!

  Greedy, inefficient and uncaring: I am yet to do business with a landlord / estate agent that doesn’t live up to these characteristics.