Landlords and tenants caught by double dip charging

While most letting agents play by the rules, the study found evidence of both landlords and tenants being charged for services such as checking references or alterations to contract extension agreements, even for very simple revisions.

The research revealed how one south London letting agent charged a landlord £670 for a simple contract extension, which only necessitated a change of date, while the tenant was charged £90 for the same action.

The study also highlighted the variance in fees landlords pay when they rent out their property through an agent. While on average landlords are charged 11 per cent of the revenue they receive on a monthly basis if they rent out their property through a letting agent, the research found a range from as low as five per cent to a high of 17 per cent.

Meanwhile, the cost of a letting agent completing an inventory on a property ranged from £65 to £300; property visits from £20 to £100; and the charges for managing a checkout from £30 to £125.