easyProperty CEO Rob Ellice is backing a call for letting agent fees to be capped.
Ellice spoke out after the MP for Dulwich and West Norwood, Helen Hayes, presented a petition from her constituents calling for the cap.
Ellice said: “We surveyed 1,000 renters through the UK and our findings show 51.4% of private renters believe letting fees are extortionate and a further 39% believe they are expensive.”
Ellice said that given the 90% dissatisfaction rate, there should be a cap of either £100 or 0.1% of the deposit.
He said: “Some agents charge up to £420 in administration fees in addition to referencing and check-out charges.
“If there is a change of tenant, some agents will charge £300 to modify an AST contract, which is hugely disproportionate to the administrative burden required.”
easyProperty itself charges £49.99 for referencing, done by a third party, and £24.99 for a new AST agreement if there is a change of tenant.
Comments (23)
“Ellice said that given the 90% dissatisfaction rate, there should be a cap of either £100 or 0.1% of the deposit.”
Maths isn’t a strong point then! 0.1% of the average deposit is somewhere between £0.85p and £1.28.
Just an observation but have sleazyproperty got a tie in with a retirement company as its all i can seem to find on their site?
I read this an thought I would have a look. The first thing I was greeted by was the slogan saying “not a typical estate agent” … oh how the phrase “No, they sell and Let things” just kept echoing in my head!
Oh, I nearly forgot.. Ellice has assumed chair of Governors at Saint Nicholas School Harlow. He has been the subject of a vote of no confidence there as well. Check out their accounts, falling pupil numbers, poor results, VERY disgruntled staff.. another Ellice ‘hands on’ ‘success story’
Ha ha I don’t think you care for him over much MB!!!!!
You got me.. I’m an investo-journo and its only a matter of time before I ‘connect the evidence to proof’ of wrong-doings.
Martin Please do this ASAP and also look at a number of other companies that are regularly mentioned on here!
..Hi SP.. What I know and what I can prove are two different things. The financial boutique Crystal Capital where Ellice’s friend Kingsley is based, is worthy of closer inspection.
What a joke..! Ellice, you are a plum..!
HAVE A LOOK AT THEIR ACCOUNTS HERE. https://beta.companieshouse.gov.uk/company/09210707/filing-history
£145,000 turnover with a multi-million spend..hmm great return on investment…not!
Ellice, You can start thinking about sharing your ‘expertise’ and opinions if when they’re ever worth a damn. Until then, I suggest you go for another spin in your Ferrari before the bailiffs repossess.
I cannot help but wonder that agents have concluded that some form of legal restriction on fees is just around the corner; and have therefore decided to make hay while they can by increasing fees. This will further the anti agents call for a fee ban.
Sorry Peter, where has it been evidenced that fees have risen recently?
Rents yes, Fees not as far as i am aware.
Foolish maybe, but I do not regularly monitor other agents fees, so cannot provide evidence; remember I said “wonder”. Having just checked rightmove and looked at some agents fees, they do seem more than when I last checked, being quite a few months ago. What I have noticed in the past few months is an increase in viewers saying to me, when I advise them of our fees, how low they are compared to other agents; they quote figures that set new heights in fees as weeks go by.
What I have noticed in the past few months is an increase in viewers saying to me, when I advise them of our fees, how low they are compared to other agents…
Then, with respect, Peter, I take my hat off to those other Agents for charging something more like their worth – and query how and why you have ignored a clear opportunity for additional income.
Our fees are not low, just lower, but hey, you are right PeeBee, I should increase our fees and rake it in because I am worth it, especially if I can get away with it!
4.47 – ‘Our fees are not low, just lower’
2.26 – ‘…when I advise them of our fees, how low they are compared to other agents; they quote figures that set new heights in fees…’
Seems to me that you can’t quite make your mind up on the subject, Peter. Which is possibly why your competition is running their businesses more profitably/at less of a loss (delete where applicable).
You’re clearly not ready for a lesson in maximising income.
Fair enough. Every pond needs an ugly bottom feeder; dull and dreary mid-water swimmers and the pretty ones that get all the attention. If you like your area of water I won’t agitate it for you.
‘Disliking’ the above doesn’t make it untrue or irrelevant; it doesn’t make the reality go away.
Ellice said: “We surveyed 1,000 renters through the UK and our findings show 51.4% of private renters believe letting fees are extortionate and a further 39% believe they are expensive”
So I assume Easy had to borrow someone else’s renters to have surveyed 1000!
When you look at excessive parking fees and PCN’s charged by the London Borough of Southwark are they and their MP’s best placed to argue the level of letting fees?
You’ve gotta laugh…
…fail to make the slightest dent in a market by offering your services for **** all – so you then lobby to bring everyone else down to the same murky depths of the pond with you.
Where do you go when 5h!t-awful fees are no longer a differentiator to those who think they see a bargain to be had, Mr Ellice?
Oh dear – Father Ted will be disappointed that his favourite word sets off the smut-filter…
These guys still going?
Apparently.
Fell off my radar when ‘easyChris’ left the building.
He made ankle-gnawing fun, along with my Marketing Minion mucker, Mr Jury…
He should be careful what he wishes for. IF his business survives he may well need to charge such fees to make his model work.