Estate agent administration fee

[rpg]

Moving into a 2 bed flat in SW London (£1050pcm) in a few weeks time and had to put down a holding deposit and pay the estate agent an 'administration' fee.

Total was £500; £200 (which will come off the deposit when I move) and £300 for their fee.

Very expensive I thought?

 

[Jimbeam3678]

What is the going rate for Agents Fee's ? I'll be forced into using one in the near future so wouldn't mind a ball park figure

 

[Glaucus]

Any where from 0 to 40% of 1 months rent, or a fixed amount. Nothing abnormal about a 300 fee.

 

[Abraham]

they charge what they want, the landlord has agreed to that being charged by using them as the agent.

 

[Kemik]

I was charged 13 days rent :/ However, I know the average for the area was around 9 days.

 

[floatindolphin]

It's an absolute rip off! They charge £100's to do nothing much more than print out a contract. Must be a very expensive fancy printer

 

[Abraham]

always give it a go at negotiating it

 

[Rotty]

not rented for many years but never heard of an agents admin fee

 

[Morba]

Quite normal, it's a license to print money for them.
Just wait for contract renewal time. Mine charges £180 renewal fee!

 

[Glaucus]

Sod contract renewal, demand 6month with rolling 1month after.

 

[j0s]

Anything they do, they charge an admin fee. Only way to recoup losses I think.

 

[Abraham]

not rented for many years but never heard of an agents admin fee

It's a fairly recent thing afaik, still much worse in some places than others, even varies massively between letting agents locally.
I'm not sure whether they've started charging landlords less, only reason I can see for charging these fees other than to pay for their branded cars.

 

[Abraham]

Anything they do, they charge an admin fee. Only way to recoup losses I think.

What losses?

 

[Abraham]

Sod contract renewal, demand 6month with rolling 1month after.

This, it's very rare that they'll actually be able to force a renewal or even a rent increase out of you

 

[Kezmo]

One i phoned the other week, wanted 800 deposit on a 600 pcm property, admin fee, reference fee & a damage deposit! we didnt rent with them.

 

[Van Hellseek]

Normal. But nonetheless a complete rip-off.

Especially given the amount they'll also screw you in other ways.

 

[Morba]

Sod contract renewal, demand 6month with rolling 1month after.

Yep, we've not paid it once. No intention of doing so either!

 

[Jingo...]

I paid a £185 admin fee which covered all contracts, paperwork, viewings, deposit protection schemes, inventory and all communications between the owner and ourselves.

This included negotiating a substantial discount on monthly rent on a 6 month contract + rolling 1 month thereafter. We've had no change in rent or had to pay any renewal fees in the 2+ years we've been here and now deal directly with the landlord on any issues we have (problems to date: zero).

We had to pay 1 months deposit (which is refundable upon leaving- providing no work needs doing) + the first months rent in advance - hardly something to quibble over as it would have to be paid at some point!

So although it was a lump of money going out before moving, I wouldn't consider it much of 'a ripoff' in my opinion.

 

[Abraham]

I paid a £185 admin fee which covered all contracts, paperwork, viewings, deposit protection schemes, inventory and all communications between the owner and ourselves.

This included negotiating a substantial discount on monthly rent on a 6 month contract + rolling 1 month thereafter. We've had no change in rent or had to pay any renewal fees in the 2+ years we've been here and now deal directly with the landlord on any issues we have (problems to date: zero).

We had to pay 1 months deposit (which is refundable upon leaving- providing no work needs doing) + the first months rent in advance - hardly something to quibble over as it would have to be paid at some point!

So although it was a lump of money going out before moving, I wouldn't consider it much of 'a ripoff' in my opinion.

The admin fee is the only bit which is a rip off, 1 months deposit and a month in advance is perfectly acceptable, you really think they did £185 of work in making maybe a phone call on your behalf and filling your details in on their system?

 

[rsatd]

Lucky, here fees are half of months rent, deposit is 2 months rent and one month rent in advance just to move in ><