Landlords of many other agents have been hit by rising charges. Why?
The Tenant Fee Ban came into effect from June 1st 2019. And this means agencies that have for years pitched low, low, LOW commission rates to landlords and instead lumped cost after cost onto tenants, will now be unable to take that route to build their income.
Instead most traditional agents are looking at a sharp increase in commission rates to their landlords…ANDa fees increase for a variety of services, many of them obscure and not at all obvious until a landlord’s statement reveals them.
Here’s a range of the costs that traditional agents will hit landlords with – it’s just a snapshot of the dozens of charges on other agents’ fees lists. Compare this with Northwood’s premier product: Guaranteed Rent