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£300 fee for letting agency to provide a contract, surely this is over the odds??

Discussion in 'Personal' started by jubilee, Apr 27, 2012.

  1. jubilee

    jubilee Star commenter

    My daughter had to pay a total of £300 to an estate agency last year when signing for a studio flat in London.
    The owner of the flat also paid the agency a fee for finding a tenant and dealing with the tenancy agreement!
    I pay to advertise my student let on the University Accommodation website and don't charge a tenancy/contract fee to my tenants but there are landlords who do charge students a fee and it several hundred pounds is not unusual when it's an agency dealing with the paperwork and financial checks.
     
  2. jubilee

    jubilee Star commenter

    Those taking out a mortgage will pay anything from £99 to over £1k as an arrangement fee to the lender (typically £499)
     
  3. A rip-off, but people will pay for a roof over their heads for decades, and the b astards take advantage. Capitalism is an ugly thing.
     
  4. oldsomeman

    oldsomeman Star commenter

    From my friends who rent the poster above is correc...the estate agents are also trying to inflate their charges for servicing the contract>

    Is this not a reason why you should try to deal direct witha landlord?
    Most landlords around here in london will take a damage fee and often 2 month rent up front .
    It used to be called key rent.but they changed the name.....and its still seems from my friends they are not putting it in a secured place as they are supposed to!
    Any one who takes out a new lease has to pay the costs if they want the property.although im unsure why they cant use a standad lease.
    On the allotment it is costig us over £700 to re negotiate a few withthe council..plus increased rate in which they try to charge use home buyers rates instead of agricultural land.
     
  5. PlymouthMaid

    PlymouthMaid Occasional commenter

    That is a disgusting price. If I ever rent a property again I would certainly hope my tenants would not have to pay such silly money.
     
  6. I rent through an estate, no yearly re-negotiating the contract. We just carry on living here!
    I dread to think how people manage with such idiocies!
     
  7. Thanks for the reassurance guys- we thought it was over the odds.I'm not in London so I feel it should be a bit cheaper than the capital!
    We could try and deal with landlord direct, he's certainly a lot more reasonable than the agents at the agency. We'd like to get rid of them completely although he might want the reassurance of the letting agency still being involved! We want to carry on living in the same house, which means they have us over a barrel really.
    This is on top of a whole load of bureaucratic nonsense that neither us nor the landlord are interested in but the agency are insisting on. Sigh...
    Still at least it's the weekend!
     
  8. oldsomeman

    oldsomeman Star commenter

    the landlord doesnt have to use that agency.........he can opt out if they are over charging or not up to scratch......the main plblem i have heard from my friends who rent is exactly that..they want the cash but dont get on with the job and work on thier behalf!
     
  9. primarycat

    primarycat Established commenter

    You may find difficulty in dealing directly with landlord if you originally found house through that agency - they generally tie landlords in to fees for reletting to tenant they found. If you came straight to landlord without agency doing anything it should be possible.
     
  10. We rent out a house and only use the Letting Agency on aLey Only basis. They find us the tenants, do the crdit checks and set up the initial contract. We manage everything else.
    Sorry Anon_E_Mouse, I misunderstood your situation, it does seem excessive.
     

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