Letting agents in Scotland are prohibited from charging inflated fees for their services. They should not be allowed to charge the same rates as traditional agents that would make it hard for you to find your tenants, and would also make it harder for you to buy or sell property.
Agents are a vital part of the rental process in Scotland. As a result, so are their fees. It is unlawful to charge any agent fees above 1% on the final sales price unless they pass this fee on to their clients.
In the UK, there is a legal restriction against agents charging clients for providing information to them. This is unlawful as it can lead to unethical practices in the market place. Often agents obtain false information from clients and sell them on to other customers, who may then be charged for that “information”.
This law has been around since 2007, but continues to be disputed by many. Cases have been brought forward with new evidence of agents using this law in a variety of ways including obtaining false documents from customers, selling real estate on behalf of others and offering people money for nothing (to not deal with any other buyers or sellers).
This may seem hard for us to believe given that we live in a country that allows free speech, free expression and free press; but the reality is no one
If you are looking for a property in the UK then you should pay agents fees. In the grey area lies Scotland where there is no law to prohibit agents fees.
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In 2017, the Scottish Government announced draft legislation on letting agency fees. The proposed legislation is intended to end the practice of agents charging landlords for letting services – leaving them in the unenviable position of having to provide the same service for free.
This is a story about how one of these “independent” agencies, who has been operating in Scotland since their inception in 2009, went from being an innovative and innovative technology-based business to going bust.
In Scotland, letting agents in particular, are being hit by increased competition from online platforms such as Airbnb.
Letting agents are not allowed to charge their clients money for the use of their property unless they have a specific agreement with the client. This is illegal in Scotland and we believe that it has to be reformed.
In reality, there are many factors that influence how much a renter pays for an apartment. For example: Size of residence / Number of rooms / Rentability of area / General location . There is also the issue of what type of rent refers to – monthly or per week? Recently tenants have been renting out apartments without prior written consent from landlords and without following proper procedures set out by law. These practices violate both the contractual restrictions on rent collection and tenant rights under landlord legislation.
The common economic solution to the problem of letting agent fees is for the agent to bill you direct for the full price, plus a percentage of your deposit. The problem with this solution is that it does not take into account any extra costs that you may have. This article takes a look at some of the issues around letting agent fees and makes recommendations to help alleviate some of these problems.
The idea that we should let agents charge us directly for their services is becoming more and more popular as agents are increasingly being paid by property developers, as well as landlords, in exchange for other services like marketing and deal management. However, there are still many areas of Scottish law which establish that letting agent fees are unlawful: In essence they act like rent or traffic charge – which can only be applied on properties with residential properties