2nd year accomo, holding fees?

Psypher5 · 20 Jan 2008 at 17:19

Hi,

just went to view a house for next September, and the woman said it would be 150 each holding fee to secure the property.

This would be non refundable and not go towards anything. Then a 200 pounds deposit when we move in.

Isn't 150 each asking a lot, I thought it would at least go towards the rents or something? Everything I can see online justify s my thoughts so any advice? Legal advice?

This is only the first house we have seen yet, but they seem to be going fast, and the uni list doesn't come out till mid feb :/ Help

Adz · 20 Jan 2008 at 17:32

I think it's fairly normal practice for the agent to take a deposit if they are taking the property off the market while they perform the credit + reference checks. It would be non-refundable but should go towards your deposit if you take the flat.

Obviously policies will vary and, if you're unhappy, vote with your feet and look elsewhere

.

Greenlizard0 · 20 Jan 2008 at 17:57

That does sound rather a lot tbh, where did you find the property? Student Housing Association?

Psypher5 · 20 Jan 2008 at 18:29

no, the uni haven't released "the list" yet so this is off our own back, just a number from a local housing place in town.

Everyone I've spoken to says shes taking the biscuit. Think we'll be looking for somewhere else

peetee · 20 Jan 2008 at 18:42

sounds pretty retarded, most estate agents here want the deposits, butw ill take off market when all but 1-2 have paid the full deposit. Sounds like an anal company.

InvaderGIR · 20 Jan 2008 at 18:45

Well it was going to cost me and my mates about £500 'admin fees' for one place we looked at, needless to say, we didn't go there.
Found a privately run small business by an old couple (only have a website) and all they wanted was like £200 deposit (not even the first month's rent - which most wanted as well as fees) that we get back at the end of the year...so that's where I am.

InvG

DB_SamX · 20 Jan 2008 at 19:01

My experience throughout uni was that there is always place to rent (even good ones) unless you look for somewhere after spring.

Estate agents market properties as if they are running out.

I never had to fork out for anything other than a deposit (which I got back fully) and rent. Found somewhere in March but I would have left it till later if it wasn't for needing a (rare) nice 7 bedroom house.

I wouldn't pay. Maybe you could say that you aren't in a rush and not too keen by the fees to see if they hold it for free.

thecremeegg · 20 Jan 2008 at 19:59

Psypher5 said:
Hi,

just went to view a house for next September, and the woman said it would be 150 each holding fee to secure the property.

This would be non refundable and not go towards anything. Then a 200 pounds deposit when we move in.

Isn't 150 each asking a lot, I thought it would at least go towards the rents or something? Everything I can see online justify s my thoughts so any advice? Legal advice?

This is only the first house we have seen yet, but they seem to be going fast, and the uni list doesn't come out till mid feb :/ Help

Standard practice - its usually half rent for the summer months, so basically a months rent in total. Means you can keep your stuff in it, and the landlord isnt losing out on 2 months money

AGD · 20 Jan 2008 at 19:59

£150 non refundable is unacceptable. I have studied in london with a very competitive student housing market and no one has ever mentioned holding fees, deposits yes, but no holding fees. Sounds dodgy to me.