Letting Agents fee's

[DevilDamo]

Does anybody know much about them?

I'm looking at moving from my current rented accommodation into another. I have been looking at rooms, studio flats, annexe's to rent, etc... and the majority of which are advertised with letting agents.

Anyway, I went to view a room in a house lastnight. The landlord's son currently lives in the house so I would only be sharing with him. It's a really nice house in a nice part of the county too and I could see myself living there. After being showed around by the landlord (as the son was not there and the letting agent was late), I was very keen. The letting agent then turned up and asked what I thought, to which I said I liked it. She then said she'd run me through the process.

After being told what's what, she ran through the fee's...

Administration fee: £250.00 (+ VAT) £293.75
First month’s rent: £525.00 (which includes £100 for utility bills)
One and a half months deposit: £637.50
Check in fee: £70.00 (+ VAT) £82.25

There's an additional £20.50 (+ VAT) charge if I was to move in on a Saturday.

So to move into this shared house where I will be renting a room, I as the tenant would be looking at having to pay £1538.50!!! I would obviously get the deposit back at the end of the tenancy.

I find these costs astronomical! I could kind of understand these kind of costs if I was renting a house, but for a room!!!

I am going to seek some advice from another letting agent in a couple of hours to see if this is the norm because surely, the landlord should be forking all or at least the majority of these charges as I'm just looking for a room to rent, nothing more. It's not my problem that the agent has to draw up the agreement, carry out credit checks, provide references, etc...

So for those of you in the know... does that sound right?

 

[SALL2009]

These are normal fees estate agents charge.

The rent is paid to the LL.
Deposit is required by the LL and returned (if all goes well)

Administration fee: Is a con, because the agent is already charging the LL to find a tenant.
Check in fee: Again, LL is already paying this to the agent.

try to negotiate the Administration and check in fee.

 

[DevilDamo]

Thanks

I just couldn't believe the LA charges the T those fee's when all they're wanting is a room (place) to rent.

I knew the LA also charges the LL a finding fee, but their fee's seem to be so minor compared to what the LA charges the T.

 

[joinerjohn]

What I find strange, is the extra charge for moving in on a Saturday.
A right con IMHO. Anyone in full time employment would find the weekend easier to arrange moving. The LA know this and so charge for this. Sound like a right fly by night company.

 

[SALL2009]

Thanks

I just couldn't believe the LA charges the T those fee's when all they're wanting is a room (place) to rent.

I knew the LA also charges the LL a finding fee, but their fee's seem to be so minor compared to what the LA charges the T.

LL fees are not minor either. Firstly the LL will pay tenant finding fee. If the LL is paying for full management, then 10-15% of monthly rent will also go to the agent. They also want to charge for renewal of tenancy agreements, which can be every 6 Months.

I don't bother with LA's to let out my property. Saves money, plus I know who my tenants are.

 

[stevebamford]

If you're after a room in a shared house - have a look at Gumtree (or even a flat etc)

We use it to rent out rooms and it works v well - no fees for either party

I'd try to nail down as much detail on the phone to the landlord though - will save you a load of time - you can also get a feel for what kind of LL you're getting

 

[DevilDamo]

What I find strange, is the extra charge for moving in on a Saturday.

Hence why I suggested to the LA that I'll be wanting to move in on a Friday at 11:59pm

I don't bother with LA's to let out my property. Saves money, plus I know who my tenants are.

Yeh I read about the LL fee's. But a LL is in a better position to pay those fee's rather than a T... if you see what I mean? I looked at a room lastnight, which is privately owned by a live out landlord. He's a sound person and is very professional so that's top of my list at the mo. Especially as he doesn't charge all these wasted fee's, but the odd £20 fee at the beginning and end of the tenancy to deal with the paperwork, etc... which I don't mind paying.

If you're after a room in a shared house - have a look at Gumtree (or even a flat etc)

I don't know if it's just me but I find that site very hard to navigate. Never have liked it and if I can't get on with the way the site works, then I disregard it altogether.

I'd try to nail down as much detail on the phone to the landlord though - will save you a load of time - you can also get a feel for what kind of LL you're getting

Yes. Many of the privte landlords wouldn't ask for anything less anyway. I was with this landlord lastnight for an hour as he's in the nearing stages in completing the refurbishment of this current property. I ended up talking to him about the HMO in terms of building reg's rather than as a tenant

 

[wreckedit]

I have been using Gumtree for rooms for many many years and would like to help you find one.

Which town?

Have you not noticed that when people advert. a room its per week.
Which means that you may only have to pay 1 week in advance and 1-2 weeks deposit.

That amount of expense seems totally excessive.

Those kind of expenses are more for a whole house.

If you still go ahead and before paying the deposit ask to write the cheque out in the name of the independent holding agency. For a dwelling deposit this is a statuary requirement.

 

[Robert9999]

"I would obviously get the deposit back at the end of the tenancy"

Not necessarily so. My son has rented several properties over the last 20 years. The agents or LL often find some spurious reason why the deposit or part of it should be forfeited. If it is refunded it is after a long delay and repeated requests for it.

 

[Steve]

"I would obviously get the deposit back at the end of the tenancy"

Not necessarily so. My son has rented several properties over the last 20 years. The agents or LL often find some spurious reason why the deposit or part of it should be forfeited. If it is refunded it is after a long delay and repeated requests for it.

My manager at work has just ended a 2 year rent on a property he has been living in. The landlady lived next door, but used a letting agent.

The house was in poor condition - the windows were rotten, there were holes in floors causing condensation and further rot. The windows couldnt be cleaned, and a lot of the house couldnt be cleaned either due to the damp problems.

On inspection, the landlady declared the deposit wouldnt be returned because of the above problems. Even though the problems existed at the commencement of the rental contract.

My manager being who he is, wrote a long letter outlining all the problems with the property, and clearly stating that all existed at the commencement of the contract. He sent it to both LA and LL, but the LL said she'd just refund half the deposit.

The only other option for him was to go to the small claims, but it costs more than it was worth to get £500 back. So he opted for the half deposit.

Tennants really dont have a leg to stand on in these cases. If I were moving into a rented house, I'd take datestamped photos of any problems I could see on the date I move in. The whole industry is a joke IMO.

 

[DIYDANDY]

Rip off Britaine.

In many countries renting is the preferred option. This is why in the UK people prefer to buy.

 

[pipemajor]

Sadly, these kind of rip off charges will be the norm with the Tories in power.

Regarding the return of the full deposit.
If and when you move in; Get your camera and take photos of EVERYTHING, Doors, Plumbing, Windows . . . THE LOT. Don't leave anything unrecorded where the Landlord can find a reason to make a deduction from your deposit. But most of all: Make an inventory and get the Landlord or letting agent to sign and give them a copy with both parties signatures on. Also get assurances that you can decorate or lay new floor, whether it be carpet or laminate before you decide to turn it into a little nest.

CAVEAT
My daughter moved into a house that was bequeathed to the new owner in a will. The place still looked like an old persons dwelling when it was offerd for rent. The carpets although new were cheap and as thin as paper and the old fashioned gas fires were condemned as dangerous by a corgi registered Heating engineer within a week of moving in.
Within a month, my daughter had the out-buildings refurbished and turned them into utlilty room where she stowed the fridge and washing machine. Despite the improvements my daughter made, which has added value to the property. The landlord wants to keep the deposit because she says the tenancy agreement has been violated.
But here's the sting in the tail. Because the deposit was placed with the Letting agent, only 60% will be refunded. Leaving the robbin' barsteward with £200 for doing nothing and the landlord trrying to pocket the rest.

 

[geraint]

Does anybody know much about them?

I'm looking at moving from my current rented accommodation into another. I have been looking at rooms, studio flats, annexe's to rent, etc... and the majority of which are advertised with letting agents.

Anyway, I went to view a room in a house lastnight. The landlord's son currently lives in the house so I would only be sharing with him. It's a really nice house in a nice part of the county too and I could see myself living there. After being showed around by the landlord (as the son was not there and the letting agent was late), I was very keen. The letting agent then turned up and asked what I thought, to which I said I liked it. She then said she'd run me through the process.

After being told what's what, she ran through the fee's...

Administration fee: £250.00 (+ VAT) £293.75
First month’s rent: £525.00 (which includes £100 for utility bills)
One and a half months deposit: £637.50
Check in fee: £70.00 (+ VAT) £82.25

There's an additional £20.50 (+ VAT) charge if I was to move in on a Saturday.

So to move into this shared house where I will be renting a room, I as the tenant would be looking at having to pay £1538.50!!! I would obviously get the deposit back at the end of the tenancy.

I find these costs astronomical! I could kind of understand these kind of costs if I was renting a house, but for a room!!!

I am going to seek some advice from another letting agent in a couple of hours to see if this is the norm because surely, the landlord should be forking all or at least the majority of these charges as I'm just looking for a room to rent, nothing more. It's not my problem that the agent has to draw up the agreement, carry out credit checks, provide references, etc...

So for those of you in the know... does that sound right?

welcome to the real world my boy...

 

[DevilDamo]

The landlady lived next door, but used a letting agent.

Doesn't the LA in way or another have a duty to carry out a so-called check on the condition of the property before and after it has been let so any deposit being held could be challenged?

Well tonight I have secured a room in a house share, so it's all good

 

[SALL2009]

"I would obviously get the deposit back at the end of the tenancy"

Not necessarily so. My son has rented several properties over the last 20 years. The agents or LL often find some spurious reason why the deposit or part of it should be forfeited. If it is refunded it is after a long delay and repeated requests for it.

My manager at work has just ended a 2 year rent on a property he has been living in. The landlady lived next door, but used a letting agent.

The house was in poor condition - the windows were rotten, there were holes in floors causing condensation and further rot. The windows couldnt be cleaned, and a lot of the house couldnt be cleaned either due to the damp problems.

On inspection, the landlady declared the deposit wouldnt be returned because of the above problems. Even though the problems existed at the commencement of the rental contract.

My manager being who he is, wrote a long letter outlining all the problems with the property, and clearly stating that all existed at the commencement of the contract. He sent it to both LA and LL, but the LL said she'd just refund half the deposit.

The only other option for him was to go to the small claims, but it costs more than it was worth to get £500 back. So he opted for the half deposit.

Tennants really dont have a leg to stand on in these cases. If I were moving into a rented house, I'd take datestamped photos of any problems I could see on the date I move in. The whole industry is a joke IMO.

Small claims cost for £500 would be around £50. You do not need a solicitor and the cost will be awarded to the claimant, if they win. If there was no moving in and out inventories, then it would have been an open and shut case against the LL. The LL would have most likely settled as soon as they receive court papers. No one wants a CCJ for a measly £500.
There are systems in place to protect both Tenants and LLs. If people think it’s too much hassle to use them, then it’s tough.