Letting Agents A Brief

A letting agent is a phrase used in United Kingdom to refer to a person who facilitates the making of an agreement between a tenant and a landlord in cases of residential properties. The letting agent is known to charge some commission for his/her services which is generally a fixed percent of the twelve-monthly rent.

These agents normally work in conjunction with Real Estate Agents because of the similarities in their line of work, but many letting agents are also known to work independently and deal only in lettings.

The services that letting agents are known to offer can be divided into three (3) parts:
Their principal service is introducing the landlord and the tenant. The landlord is normally charged a certain percent of the agreement’s total tenancy term and this is charged up front. This is usually in between seven (7) and eleven (11) percent.
The tenant is charged, what is referred to as, the administration fee, and this is also charged up front. This is towards the application being processed, and also normally takes care of probable tenants wanting to undergo credit searches. These fees can be varied, and are normally in between