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Real estate chief: Letting fees needed to cover our costs

Author
Newstalk ZB Staff ,
Publish Date
Thu, 24 May 2018, 6:50AM
Most letting fees currently cost new tenants about a week's rent plus GST. (Photo: Getty Images)

Real estate chief: Letting fees needed to cover our costs

Author
Newstalk ZB Staff ,
Publish Date
Thu, 24 May 2018, 6:50AM

Real estate agents say letting fees are paying for a service - and need to be retained.

The Government's considering what it should do about them.

Submissions closed yesterday and it is thinking about scrapping the fees, which cost new tenants about a week's rent plus GST.

Real Estate Institute chief executive Bindi Norwell told Tim Dower it can be a lot of money, but says it pays for a service to landlords and tenants.

"There's property inspections done, there's reference checks, there's credit checks and liasing with landlords you know processing tenancy agreements, I mean as part of this there is a service involved."

Norwell says the cost needs to go somewhere.

LISTEN ABOVE AS BINDI NORWELL SPEAKS TO TIM DOWER

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