Mystery shopper research carried out by The Happy Tenant Company has discovered that some letting agencies are making massive profits by overcharging for a range of services. The organisation claims that agents charge an average of £935 for add-ons such as inventories, deposit protection, to gas safety checks to cleaning. Apparently this is 52 percent higher than the cost price of £489, with unscrupulous agents making profits of up to an eye-watering 600 percent.
The findings are likely to boost calls for further regulation of the industry - a subject that’s had a lot of media attention this year.
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