Renters moving into Waltham Forest can expect to pay an average of £484 pounds in lettings fees. That’s an extra half grand over the top of other costs like the deposit, first month’s rent and moving van.
We trawled the websites of all the letting agents in the borough to see who was being up front about their fees, who charges the least and who charges the most.
You can see our results at http://wf-renters.org.uk/fees
Out of 56 letting agents in Waltham Forest, 21 do not publish information about their fees online – in breach of a new law that has come into force. Another two say that their fees vary.
Out of the 35 that do publish information, Spencers Property charge the most.
A typical couple signing a tenancy on a two bedroom house and needing to rely on a guarantor to meet the landlord’s requirements would have to pay Spencers £792 in fees alone.
Birchills charge the least – a typical couple would pay only £200, or zero on “selected properties”. Eastbank Studios, who only let out their own property so aren’t a typical letting agent, would charge £150.
These fees are likely to continue climbing ever higher, particularly as many letting agents link them to rents. All this all comes at a time when local people are increasingly unable to escape private rented housing: there are 20,635 households on the council house waiting list and the average house in the borough costs 15 times the average income of residents.