renting a house, letting fees

welshboy

welshboy

welshboy

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Joined
17 Jan 2006
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1,390
Location
North Wales
Ive found a house in leeds that i want to rent, now the company its with has asked for £80 for the reference and £200 for reserving the property, if the reference goes through then the £200 goes as part of the deposit plus £300.

but if the reference doesnt go through i lose £280 :(
they could just say no couldnt they and then thats me out of pocket.
bit worried, sais it takes 5days. havent applied yet.
 
yeah, I'm endeavouring to not use an agency next rental. It's a stupid arrangement that doesn't seem to serve its intended purpose (legally protecting the landlord and the tenant), instead it just causes a crapload of inconvenience and stress for both parties.
 
well ive applied and they said it can take up to a week for a result, im bit nervous that they will come back and say i dont earn enough even though i pay higher rent then that now and cope fine. oh well will just have to wait and see i suppose
 
paddyuk said:
well ive applied and they said it can take up to a week for a result, im bit nervous that they will come back and say i dont earn enough even though i pay higher rent then that now and cope fine. oh well will just have to wait and see i suppose
Click to expand...

in general work to your salary being 2.5 times the annual rental (although this does vary a bit depending on who's doing the checking/their requirements)
 
regarding the charge it is a little bit steep, and yes i think it's pointless, i dont think it should be dependant on your references, only whether you actually continue to take the property, i.e. you lose your money if you pull out but if they say no you get it back
 
I recently put down £200 for a property along with the application for the property.

The agency LOST my application and we lost the house. But I got my £200 back thank god.

I thought i'd have got that back anyway if we didn't get the house?

Thankfully i'm moving soon into a house which is rented privately and the landlord is really cool! :)
 
its not a national firm! only a local agency with 2 offices

but once we take the admin fee's (£150) we will hold that person. we run on a first come first serve basis, but its is very very rare to get anyone apply that are likely to get turned down.
 
would rather not say, dont know who reads this ;) lol

(altohugh i think i have mentioned it on here before :eek:)
 
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I rent through a local, but reputable agent. I was £155 initially - £100 holding deposit, and £55 for the credit check fee. The holding deposit was taken off the first months rent. I also paid for 1/2 the inventory, and will pay the same when I move on...

Seems a pretty standard setup in the letting market.
 
As far as admin fees go, I've dealt with agents whose admin fees are £50, and some whose are as much as £800. The further up North you go, the more they seem to charge.
 
Reeds Rain wanted £150 no refundable to do mine on a new house and Rooftops charged £145 both about the same pcm...

Do they earn money from the landlord too?
 
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