The letter, under the name of the property tech platform’s co-founder and CEO Richard Jenkins, is addressed to deputy prime minister Angela Rayner and housing and planning minister Matthew Pennycook.

While welcoming extra funding for additional housing pledged in the recent spending review, Richard highlighted the fees many letting agents currently charge landlords.

Overall, Hello Neighbour estimates that landlords face £2bn in “excessive” fees each year in London alone.

In his letter, Richard highlighted that combined managed and letting fees can cost up to 20% of annual rent, with renewal charges also generating over £5,000 per transaction for some agencies.

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Such fees can also be used to lock in landlords into contracts, which Richard argued can limit choice, stifle competition, and discourage landlord investment.

Hello Neighbour is therefore calling for this area of the market to be reformed, with landlords able to leave agency contracts “without punitive fees or unreasonable notice”.

“We believe these proportionate changes would enable the residential letting market to modernise, remain competitive, and hold firms to greater account,” wrote Richard in his letter.

“By accommodating these reforms in the Renters' Rights Bill or through other relevant measures, government can unlock a fairer, more dynamic rental market that benefits tenants, landlords, and the wider economy.”