Compliance fees ? my agent suggests I should pay them a monthly Compliance Fee
I let a few flats through a high street letting agent. They have suggested that I should pay a Compliance Fee to them every month when a new tenancy starts in September in one of my flats.
Have any other landlords had experience of Compliance fees? Surely I use a well known national agency to keep me on the right side of the law? I would be interested to hear if anyone paid a Compliance Fee and received support from their agent when a case went to court.
This is how my agent described it ..." in terms of the Compliance Fee (only £11 + vat a month), this covers you for all legislation (the government has introduced a whole raft of legislation since the start of 2018), including if the tenancy ever went to court and we ( the high street letting agent) would support you through the court process – no other agent offers this. The alternative would be for yourselves as landlords to cover court and legal costs, which could prove expensive if it got to that stage".
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.