Alexandra Townsend-Wheeler, a property paralegal at Bircham Dyson Bell LLP is calling for regulation to the lettings market place to prevent letting agents from charging a variety of different fees on top of rent in advance and deposits.
"The problem seems to be most prevalent in central London where lettings agents are charging a variety of 'on top' fees on rental properties," explains Alexandra Townsend-Wheeler.
"Check in and check out fees sound very formal, but in practice the tenant merely signs a rental contract, an inventory is completed and often the letting agent isn't even present at when that is conducted.
"The majority of young professional people in London are currently renting because they either can't afford to buy, or their job security is in question and they are therefore reluctant to make the financial commitment - that's driving many more to rent property and be subjected to letting agent fees.
"The market is crying out for regulation to prevent decent hard working people from being subject to unnecessary fees.
"Many lettings agents have an 'I can, so I will' attitude to charging fees - and without formal regulation, this will continue without the ability of the consumer to protest. We need transparency so that tenants know exactly what they are paying for.
"The sooner the market is regulated, the better."
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