New UK property rental website cuts out role of letting agents, fees

London

HOMERENTER, a new British online property lettings website backed by newspaper publisher Trinity Mirror that was launched on Monday, offers to cut out the role of traditional letting agents and the hefty fees which they levy on tenants.

These fees, which go towards the cost of conducting viewings, verifying references and drawing up contracts, have become an increasingly important earner for traditional agents as a shortage of affordable housing forces more people to rent each year. However, their sharp rise has inflated the cost of renting and fuelled public anger, prompting the British government to last year announce plans to ban such tenant fees.