Online lettings agency snipes at High Street firms’ “fat price tags”

28 January 2021 | Renting

Online lettings agency snipes at High Street firms' “fat price tags”

An online lettings agency that claims to have analysed the costs of “a selection” of 12 High Street agencies has accused them of charging landlords “fat price tags.” 

Herddle, which charges a flat fee to customers, says landlords pay High Street agents “£2,178.82 too much”. 

The online service does not name the 12 but claims their average fee is 19.8 per cent, and extrapolates that to say on “an average monthly rent of £1,750” would trigger charges per year of £4,158.

A statement from Herddle states the fees could be dropped to “a more reasonable” level and chief executive Corey Cumins says: “We’re not saying landlords are getting ripped off. But it’s curious that many are paying over the odds for a service that may not live up to its fat price tag. 

“We’re not sure how many are in this boat, but given our calculations use the average fees it’s probably fair to assume this could be the average experience.” 

This post has originally been featured in Letting Agent Today.