More landlords are dispensing with agents, to let and manage their own properties.
The National Landlords Association says that landlords are dissatisfied with extra charges that “many” agents are levying on to landlords following the tenant fees ban last June.
According to the NLA’s research among 791 of its members, 43% were boycotting agents in the last quarter of last year – up from 36% in the third quarter.
The NLA says that a typical landlord spent £3,221 on agency fees last year, up from £2,026 in 2018 – a 59% increase.
CEO of the NLA Richard Lambert said: “The tenant fees ban was always going to lead to agents trying to charge landlords more in order to recoup costs and maintain their margins.
“The only question was how much of a hike landlords would be prepared to accept.
“Landlords are voting with their feet and opting to forego paying inflated fees for the services of letting agents.
“This goes to show that landlords will only pay what they believe the service is worth and no more.
”A good letting agent can provide a great deal of value to landlords who do not wish to manage their own properties, but this shows that it is not essential to an increasing number of landlords.
“Responsible landlords can, and do, self-manage, saving themselves thousands of pounds.”