so i am new to the landlord thing, because i am wet behind the ears i have signed up for the management service from my letting agent - when i am more familiar with everything i will probably switch to the cheaper service.
ANyhoo, my lettings agent cahrge 14% incl vat for management service. i thought this was bad, but then they are now asking for what appears to be an additional upfront free of £1817 - the invoice says that this is the “first instalment of letting fee”. The rent is is only £1300 so accordling to my calculations the first instalment of the letting fee is only £182 per month so I cannot understand what this is for and i have emailed and phoned them but havent heard from them
THe tenants are due to move in, and i have paid for an inventory charge and all sorts so its all systems go but was just wondering if anyone knows what this could be for? Or am i being scammed (they are apparently a reputable letting agent tho).