• STV
  • MySTV

Decision not to charge tenancy fees helps Edinburgh letting firm boost income

Ravenstone Property is one of just three Edinburgh letting agents that does not charge tenancy fees. Here, Director, Neilson Rutherford explains why the firm does not ask tenants to pay charges he describes as 'contentious and unpopular.'

Edinburgh Tenement in Harrison Park. CC - From Flickr: http://www.flickr.com/photos/chatiryworld/2126793367/sizes/l/in/photostream/
ChatiryGirl

You don’t get a second chance to make a first impression – as a letting agent property viewings with potential tenants are primarily focussed on finding suitable tenants.

In most cases a property will sell itself to a viewer and any additional costs on top of deposit and rent will not prevent a new tenancy from proceeding, but the subject of tenant administration fees is contentious and unpopular, and so there are undoubtedly advantages in not charging tenant administration fees.

It is sometimes interesting watching the reaction of potential tenants when at a viewing you inform them Ravenstone Property Letting do not charge tenant administration fees – some people will immediately look for clarification “what – no fees?” while others will go quiet and are probably thinking, “does this guy realise what he just said, I‘ll not say anything just in case he corrects himself.”

Ravenstone Property Letting doesn’t believe this strategy will be the deciding factor for someone interested in renting a property from us but we are sure it has advantages and it certainly doesn’t do any harm when trying to find new tenants.

Firstly, excessive tenant administration fees may be a barrier to entry for some people and certainly a stumbling block that might influence the decision to rent a property or otherwise. Like every agent & landlord, Ravenstone Property Letting wants to find good tenants for our properties, and removing this potential barrier is appreciated by both our tenants and our landlords.

In the extreme, if tenancy administration fees are viewed as a barrier to entry there is an argument they prevent letting agents from making a fee from rental income.

A good relationship between a tenant and a letting agent can make a tenancy easier to manage. At Ravenstone Property Letting we try hard to ensure our tenants find us friendly and approachable. We believe the conscious decision not to charge tenancy administration fees is a sign of goodwill and an initial indication that we are approachable and tenants will be treated fairly.

Of course we have expectations of our tenants in terms of them conducting their tenancy in a satisfactory manner, and we hope not charging tenancy fees goes someway to encourage a mutual respect between agent and tenant. If there are maintenance issues or any other relevant problems a tenant feels they should bring to our attention we would much rather know about them and respond quickly than have a tenant feel we are unapproachable or a tenancy issue is likely to cost them money and so goes unreported.

Anyone who thinks letting property is easy and agents don’t need to do much for their fees probably has a simplistic idea of what the job involves. Acting as an intermediary between landlord and tenants means you are often taking the brunt of frustrations from both parties while trying to act in their best interests, but this is part of the job and it’s why landlords pay management fees.

There are costs involved in preparing tenancies & relevant paperwork, and Ravenstone Property Letting understands the argument for charging tenant administration fees but we believe in looking after both our landlords and tenants, and more often than not a happy tenant will go hand in hand with a well kept property and a satisfied landlord.

A number of our tenants have mentioned that not charging fees is an attraction and played a part in their decision to rent using Ravenstone Property Letting. Word of mouth referrals from tenants and landlords should be equally important to letting agents and we believe in working hard to achieve both.

IN DETAIL:

Ravenstone Property Letting

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. At least 6 characters please. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
At least 6 characters please
ShowHide
This field is required. At least 6 characters please.
You have to be 16 or over to join
This field is required. This doesn't appear to be a valid date
Type your full postcode and select your address This field is required. It doesn't look like you've entered a valid postcode. Can't find your address? Confirm the details you've given us are correct by clicking here

By continuing you agree to our Terms of Use, including our Privacy Policy and Cookie Policy. Any issues contact us.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.