Letting agents fees.

Industry debate on current practice

On 9 January 2013, Legal & General Network hosted a round table event between key players in the UK property market, and the housing charity Shelter.

The objectives of the event were to:

  • share insights on renter’s views on letting agents;
  • discuss the contentious question of letting agent fees; and
  • highlight how the need for greater clarity and higher standards can be implemented without affecting rent levels or the agent’s businesses.

This followed research conducted by Shelter that looked into poor practice from letting agents in Scotland. LSL Property Services, the Property Ombudsman, Douglas and Gordon Letting Agents and Intercounty were some of the distinguished guests attending the event as well as Campbell Robb, CEO at Shelter.

Michael Stoop, Managing Director of Xperience, our network of franchised estate agencies, chaired the discussions. He commented,

We had an open and frank discussion with Shelter listening to the industry views. We agreed that we all aspire to a regulated lettings industry that ensures all agents are members of the trade association, the Association of Residential Letting Agents (ARLA), have client money protection, and a redress body, such as the Property Ombudsman Service. Shelter has agreed to amend their public stance on this, and encourage use of agents that are ARLA members. We want to outlaw bad practice and ensure there are good standards in place.”

Stephen Smith, Director Housing and External Affairs, Legal & General Network said, "It’s important to work with our charity partners on industry issues and help drive forward positive change for the benefit of consumers."


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