Are these fees legal?

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M
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Good afternoon, I have a flat that O let through Barnard Marcus. They charged me 7 or 8% of rent as a fee. The 1st year I anticipated this being for finding, referencing and credit checking tenant etc,(they do not manage property, record inventory or collect rent)however on the fist renewal I was charged the 7% and 150 fee for a new tenancy agreement. This worked out to be over 1200. I asked them what the 7% fee covered because I have had no further benefit from them and it clearly wasnt for new tenancy agreement because I was charged on top for that as well. I am approaching my 2nd year and they are again asking me for 7% and 150 for tenancy agreement. My tenant also pays 150 if she renews. The fee is advertised in the terms and conditions but I have asked repeatedly what it actually covers and this is the only response I can get "The 7% + VAT letting charge will continue as long as the tenant resides in the property whether it is fixed or periodic.

Should you choose for us to arrange a fixed term tenancy then this will cost 125.00 + VAT to draw up the new agreement or if you wish for the tenancy to become a periodic tenancy then there will be an administration charge of 100 + VAT."

Can they legally charge such an exorbitant fee for no service at all? I look forward to hearing from you.
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