Tenants Charged Up To £780 In Fees To Move Home

By Londonist Staff Last edited 98 months ago

Last Updated 19 April 2016

Tenants Charged Up To £780 In Fees To Move Home
Photo by Lunatic Desire from the Londonist Flickr pool

It can cost you up to £780 in letting fees alone every time you move home in London, according to new research.

Generation Rent and volunteer researchers scoured hundreds of letting agents across eight London boroughs. The average fee paid by two people renting a two bedroom property ranged from £345 in Camden to £461 in Waltham Forest.

The highest fee was charged by an estate agent in Docklands — a whopping £780, according to the research — but we can't verify this because the agency doesn't list its fees on its website as it's required to by law.

Betsy Dillner, Director of Generation Rent, said: "Competition for homes is fierce, so tenants aren't in a position to avoid paying letting fees, and agents often charge what they like.

"If tenant fees were banned, agents could start competing properly for business, and tenants wouldn’t have to dip into their savings to be able to move home."

You can read more about what the research uncovered on Generation Rent's dedicated website.