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Thursday, January 05, 2012

Rise of the letting agent.

In days gone by letting agents in most towns were a rare beast. They frequently occupied upper floors in seedy backstreets or damp back offices. No longer.

The growth in the buy-to-let market has resulted in some letting agents occupying prime spots within our towns and cities whilst traditional estate agents struggle.

A recent report illustrates the growth of the letting agent. Chelmsford in Essex (hardly an urban metropolis) now reports 44 letting agent up 50% a local paper reports. Is this growth a sign of the "fat cat" fees that some letting agents can charge or does it reflect a fundamental change in the balance between buying and renting.

These figures do ignite the debate again about letting agents. Are they unregulated vultures preying on unsuspecting landlords or do they provide a valuable service for landlords in the growing rental market.

One thing is for certain - the letting agent is very much on the rise!

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