An entrepreneurial couple have launched a campaigning website to end the “money for old rope” fees charged for rental properties by letting agents.
Husband-and-wife business team Jag and Bal Hir, of Find Me a Landlord, based at The Courtyard, Shendish Manor, in Hemel Hempstead, want to rid the rental property market of unnecessary fees for what can be, in simple terms; an introduction.
Jag said: “The true winners in this current property market are the letting agents who currently charge both landlords and tenants what can be extortionate fees for what is in fact a relatively simple service.”
Bal added that charges to landlords can comprise of finder’s fees, itinerary checks, and a percentage of the monthly rent once a tenant is secured. Charges to tenants can consist of the admin fees, referencing and credit check fees, deposit handling fees, fees for the transfer of council tax and fuels bills. She said the list can be endless.
She said: “Remarkably, on occasions, some of these fees can be charged to both the landlord and tenants! Tenants are often seen as cash cows by an industry which takes advantage of their human desire to have a roof over their head.”
Jag said: “We’re on a mission to break up this cosy but costly arrangement by providing a service which simply and safely meets the needs of both tenants and landlords.”
Find Me a Landlord’s aim is to allow landlords and tenants to engage with each other directly through a portal without charges and fees. The couple’s vision is to revolutionise the property rental market for both landlords and tenants by offering a free service via a secure portal.
Landlords using the site are able to register details online and upload properties for rental within three categories: social, student and private properties. Landlords upload images of their properties, add descriptions, attach gas, electric and Energy Performance Certificates (EPC’s).
The site also allows them to add, edit and amend their portfolio as often they like. Once properties are rented, the landlord can manage this by removing the advert from the website, but still hold the property data via their online files.
Prospective tenants can browse the site and search via the three specific categories without any restrictions. This service incurs no fee and allows the tenant to view as many properties they wish. Once they find a property of interest they can contact the landlord directly.