Inspiring Leicester Letting Agent Updates Letting Agent Fees Ahead of Fee Ban

Letting Agent Fees and Services can be hard to compare but Harry Albert Lettings & Estates makes it easy for you to see the value they provide at an affordable cost

Harry Albert Lettings & Estates To Let Board

Letting agent fees and property management fees can be a minefield. If you’re lucky, agents will publish their fees so you can shop around and easily compare the services you’ll receive and prices you’ll pay when you instruct a letting agent or property manager to look after your properties in Leicester, and indeed, across the UK but more often, they’ll obscure their fees so you have to guess who provides the best value for money.

Agents who promote affordable property management and affordable lettings often later bombard landlords with hidden, unfair charges or worse, they profiteer from the tenant’s misfortune of moving into a property managed by an unscrupulous agent.

Harry Albert Lettings & Estates, one of Leicester’s newest, most sought-after letting and estate agents, has updated their pricing structure to improve the return on investment landlords earn from their rented properties in Leicester.

The news comes after Harry Albert Lettings & Estates‘ director sent a rent increase notification to James Brokenshire, Secretary of State for the Ministry of Housing, Communities and Local Government, after it was announced that the government were making a U-Turn on the decision to increase the proposed deposit cap from five weeks to six knowing full well this will drive up rents equivalent to one week’s deposit split over the sixth month fixed-term period, having a detrimental impact on the lowest income earning tenants and likely forcing increased homelessness for which agents and landlords will get the blame.

The new policy was announced yesterday on social media after several polls were launched to find out what landlords and tenants in Leicester and the UK prefer and further details have been released on their website. The findings discovered that there are major similarities between landlords’ and tenants’ desires for the private rented sector, for example;

  • Landlords and tenants want to be treated fairly and with dignity.
  • Landlords want their tenants to be happy living in their property and tenants want to be happy living in their home.
  • Landlords don’t want to be charged hidden or upfront fees and tenants don’t want to be charged outrageous, unnecessary fees like tenancy renewal fees.
  • Landlords want more asset protection and tenants don’t want to be placed on unsuitable periodic tenancies.

What are the changes to their letting agent fees?

The response to the surveys set up by Harry Albert Lettings & Estates have allowed them to make several key changes to their pricing structure and some aspects of how they manage tenancies, these include;

  • No Upfront Fees for Landlords: Previously, the Leicester letting agent and property managers have charged all fees upfront, this includes a £100 set up fee when you instruct them to manage your property and a £99 tenant find each time you need a new tenant (they charge low fees to find a tenant to ensure they don’t make a profit in this area, this is how you will know that it is not in their interest to encourage high tenant turnover like some agents who charge upwards of £600 in non-refundable tenant fees before the tenant is even offered a tenancy, likewise, they also charge reasonable tenant fees that only just cover their costs incurred during the application process). Now, all fees will be deducted from the first month’s rent, with the exception of their Advertise Only Service (£149) which is still charged upfront. Their fee for tenant find without management is £349 with an aftercare package of £200 per year and we find it is always cheaper just to instruct them to fully manage your property.
  • No Yearly Renewal Fees: Tenants should not have to pay a ransom to renew their fixed term, assured shorthold tenancy agreement. When tenants are forced to pay but can’t necessarily pull upwards of £300 out of thin air each year to pay to put their signature on a single dotted line, they often opt to allow the AST to expire and go onto a periodic tenancy. This means that your asset as a landlord isn’t protected as sufficiently as it could be, this time next month, your property could be empty as tenants are under no obligation to remain in the property for a further term of six months and just have to provide one month notice; this can be quite disastrous if there is low tenant demand in the area leaving your property empty and risks are increased if you’ve used any financial products to assist you in acquiring the property. Therefore, Harry Albert Lettings & Estates are committed to never charging any renewal fees so that tenants can freely choose to renew their tenancy or go onto a periodic tenancy. The only time they will recommend a tenant goes onto a periodic tenancy is if the tenant is expecting to move out within the next six months, the tenant’s circumstances are likely to change for the worse or the tenant is higher risk (eg. in and out of work, regularly receiving benefit sanctions, etc). Similarly, they’ll never charge landlords any fees to renewing the tenancy agreement because this charge should come under the management/after-care fees you pay.
  • No Hidden Fees: Often, you’ll instruct an agent to let and manage your property and they inform you that they’ll deduct £x amount from the first month’s rent. Once the property is let, you receive your remittance and it’s several hundred pounds less than you expected and the agent informs you this is because they needed to carry out a repair before the tenancy, instruct a gas safe engineer to certify the property meets gas safety regulations, an inventory needed to be carried out, they’ve charge silly-fees for registering the deposit, extra fees for viewings or rejecting unsuitable applicants… Harry Albert Lettings & Estates won’t do that. The amount you’re quoted is the amount you’ll pay and, should there be any extra costs, you’ll be informed of these well in advance and approval will be sought with the exception of emergency repairs where they have to act as Agent of Necessity (meaning they can legally take any relevant action to ensure a property is safe and compliant with the law or to limit damage). They promote themselves as the No Hidden Fees Letting Agents in Leicester
  • Low Tenant Turnover: A lot of agents generate at least a quarter of their revenue from tenant fees and as such, are incentivised to encourage tenants to move out or encourage landlords to evict tenants using section 21 or section 8 notices of intent to recover possession of their property so the agents can start looking for new tenants and charging anyone who’s willing to pay extortionate tenant fees. Because Harry Albert Lettings & Estates don’t generate a profit from tenant applications or finding new tenants when they’re managing your property, their is no incentive for them to encourage tenants to move out or landlords to evict good tenants, this means you’ll be receiving regular rent payments on time, every time and have minimum void periods (months where your property is untenanted).
  • Free Advice for Landlords: The Leicester property management company, Harry Albert Lettings & Estates, also provides free advice to landlords to ensure compliance, even if you’re not one of their clients. This is because they’re committed to good practices and ensuring the private rented sector is fair and easy to navigate for all concerned.

The company holds transparency and treating clients (which, they stress, includes tenants) fairly in high regard and as such, they are well recommended by Leicester Property Insight. Though they declare that they are a for-profit company, their landlord clients’ return on investment is more important to them than their own bottom line provided they can afford to keep their lights on and cover their own unexpected bills, similarly, they feel strongly about not ripping tenants off or holding them to ransom whilst they live in your properties; the letting agents, who were also shortlisted for New Agency of the Year 2018 by The Negotiator Magazine Awards, believe this is conducive to long-term tenants.

For more information on what’s including in their management service, you can visit their website:

Alternatively, you can get in touch with them today to find out more by calling 0116 321 4970 or sending an email to You can also keep up to date by following them on Facebook:

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