renting a house, letting fees

[Lysander]

rock bottom down here then lol

a lot of places obvioulsy do holding fee's then?

The holding deposits tend to be asked for by those agents down the lower end of the market since people have more or a tendency to scupper having put an offer in.

High-end agents [e.g. Douglas & Gordon, Knight Frank] generally don't ask for holding deposits since the clients are far more committed to the properties and meeting the rent is not a point for concern.

 

[TripleT]

Was only £50 for a credit check/admin fees up here in Manchester! £800 is shocking!

 

[welshboy]

should hear back next week sometime, all being well. theyve taken the property off the website already.

 

[TripleT]

I wouldn't worry unless the rent is massive or you have a dodgy credit history hoenstly

 

[Deiwos]

Just in the process of finalising the lease for my first rented property, with 3 friends. The letting agency charged us a £200 holding fee, along with a £250 deposit for damages etc each. The holding fee we get back at the end of the lease, and the same for the deposit, if they don't have to carry out large amounts of work on the property. Luckily we didn't have to pay admin fees with this company.

 

[welshboy]

my credit history isnt that great to be honest, not as bad as some peoples but not brilliant, ive failed for a loan several times and missed a few payments last year on my credit card. ive been using experian since to bring it back to order. should be ok

 

[Lysander]

Just in the process of finalising the lease for my first rented property, with 3 friends. The letting agency charged us a £200 holding fee, along with a £250 deposit for damages etc each. The holding fee we get back at the end of the lease, and the same for the deposit, if they don't have to carry out large amounts of work on the property. Luckily we didn't have to pay admin fees with this company.

Sounds like you were screwed over there. The holding deposit should be deducted from the first month's rent. They've effectively increased the deposit and the TDS is a joke anyway.

 

[Deiwos]

Sounds like you were screwed over there. The holding deposit should be deducted from the first month's rent. They've effectively increased the deposit and the TDS is a joke anyway.

TDS? Is there any legal point that says that the holding deposit should be deducted from the first month's rent, or is it just a generally accepted procedure that our letting company isn't following?

 

[Lysander]

TDS?

The Tenancy Deposit Scheme which 'safeguards' the release of deposit monies. But it's never that simple...

Is there any legal point that says that the holding deposit should be deducted from the first month's rent

No there isn't. It all depends on what's written in your contract.

or is it just a generally accepted procedure that our letting company isn't following?

Exactly. They just did it to increase the deposit. Therefore they can deduct more from it at the end of the tenancy if they see fit.

 

[FUFTUB]

Me and the missus have just moved in to a house that we are renting through an agent. We had to pay £157 for the admin fee / holding deposit and then a further £35 'check in fee'

They will get every penny out of you they can mate, it's their job!

 

[Stinky]

The Tenancy Deposit Scheme which 'safeguards' the release of deposit monies. But it's never that simple...



No there isn't. It all depends on what's written in your contract.



Exactly. They just did it to increase the deposit. Therefore they can deduct more from it at the end of the tenancy if they see fit.

different agencies will work in different ways! there is nothing to say it must be deducted from month 1.

 

[Lysander]

£35 'check in fee'

A check-in is a totally standard procedure but if the landlord is hiring a clerk, he should pay for it.

I refused to pay my £75 check-in fee and the agent just swallowed it in the end.

different agencies will work in different ways! there is nothing to say it must be deducted from month 1.

True, but the industry norm is that the holding deposit is deducted from the first month.

 

[welshboy]

all went through, thank god. move bank hol wknd cant wait
although im now skint lol

 

[me227]

We looked at a flat the other day and we were going to go down and secure it. But no you couldn't put any money down to secure it.

You had to give them the deposit take the application forms. Get all that sorted and send forms to your gaurentor, forms for a character reference and also send forms to the bank. After all this is done you hand the stuff in. But that doesn't even mean you have the flat. This is just for a chance of having the flat along with everybody else.

There is no way i'm paying around £80 for the CHANCE of getting the flat I looked at.