Renting - Fees - Correct?

JamesU2005

JamesU2005

JamesU2005

Soldato
Joined
30 Nov 2005
Posts
3,084
Location
London
Looking at moving into a new flat share, however, the estate agent costs seem a bit high.

Basically, require first months rent in advance (this is fine), plus deposit (this is also fine), but the estate agent has asked for £310 to pay for the changing of the deposit, tenancy agreement and checking references.

Rent is £500 per month.
Deposit is £700.

There is an additional fee of £310 to be payed to the estate agent for changing the deposit over, tenancy agreement over and also to check references.

Is this normal? It's a London flat.
 
With regards to England yes, it looks like it's still legal: http://england.shelter.org.uk/get_advice/finding_a_place_to_live/renting_privately/letting_agencies

In Scotland however it has been made illegal: http://clearpropertyadvice.com/inde...nfused-are-letting-agency-fees-illagal-or-not

What I find crazy is how many agencies are bypassing the new deposit scheme. Now instead of asking for a deposit it's simply being added on as your first months rent.

So they now read: "1st months rent is £600 and thereafter £300 - no deposit required"

Cheeky buggers.
 
It's high for Bristol. Might be standard in London. You've always got the option to live somewhere else, using a different estate agent or dealing direct with a landlord. Rent of £500 a month seems rather cheap to me.
 
So looks like everything is correct? Deposit seems pretty standard everywhere.

It's just the extra fees that get me (changing the deposit over, tenancy agreement over and checking references). Would it really be this high?
 
JamesU2005 said:
So looks like everything is correct? Deposit seems pretty standard everywhere.

It's just the extra fees that get me (changing the deposit over, tenancy agreement over and checking references). Would it really be this high?
Click to expand...
It won't cost that much to do (nowhere near), but agents want to make money.
 
It'll be that high if you're willing to pay it. If you're not, haggle or walk away. Estate agents bear a close resemblance to thieves.
 
I paid £150 for my checks etc, and another £150 for my girlfriend.

Rent is £450 P/m & £450 upfront deposit.

The checks cost £42 to do, so that's £108 in their back pocket to input your details into a website form.
 
Last edited:
You paid 150quid for your gf? Sounds like you got a good deal but ill bet the maintenance fees are extorionate :p

On topic.....sounds ridiculous to me but as stated in the links Roy posted I've never had to deal with additional fees when I was renting at uni. All it was, was the deposit and first months rent.
 
Looking at places currently on Zoopla/rightmove most are listed at say £75-150 for a check on the main person, similar or sometimes less for other adults and £50-100 for a guarantor check and thats about all the fees.

Currently finding it very difficult to find anywhere suitable. I'm moving out purely because my joints are completely shot now, the stairs are making my life a living hell so need a bungalow basically which limits choice drastically, really need a proper shower rather than bath with shower head over it as well. Saw one place, basically perfect, viewed it sounded great and now the agency can't contact the landlord... doing my head in. There isn't much choice and I was kind of willing to take the first thing that was workable, but since viewing this place everything else is terribad by comparison :(

I think about 3 things in a row we arranged a viewing and got called en route to say the place had been rented, this time, viewed it and can't get in contact with the landlord, its a joke.
 
£1k months rent, 6 week deposit, 1 week rent for AE fee and £50 referencing, just under 3k, before receiving the keys... And I get to go through it all again when I move in a few months.
 
Just paid £200 reservation fee (goes off 1st month rent) and then £100 each for checks and that for me and my girlfriend. Then got to pay rest of 1st months rent and £700 deposit at least 5 days before we move in. Rent is £550pm. Some agents that we looked at were are charging £150+ for checks on each person.
 
Im in a similar position but my location is Runcorn. The 3 properties are asking...
1) £120 per person, so £240
2) £250+vat, so £300
3) £300 for couple application

Then rent 595 plus 595 depsoit, or 600 rent plus 900 deposit (furnished flat).

Its so bloody expensive lol
 
I'm an Estate Agent, the lettings service I offer for landlords is an advert only/tenant finding service and we only charge the tenant £99 for the referencing etc.

At the end of the day we're here to make a living but £300 to reference someone and register a deposit in my opinion is a lot of money for the actual work involved.
That's just my opinion, agents can pretty much charge what they like!
 
James said:
I'm an Estate Agent, the lettings service I offer for landlords is an advert only/tenant finding service and we only charge the tenant £99 for the referencing etc.

At the end of the day we're here to make a living but £300 to reference someone and register a deposit in my opinion is a lot of money for the actual work involved.
That's just my opinion, agents can pretty much charge what they like!
Click to expand...

Still think the industry needs regulating, even charging £99 for something that costs you £15 is ridiculous, you don't even do anything for the tenant, they pass all their details to the referencing people and they tell you, it's what a couple of calls and emails on your part
 
James said:
I'm an Estate Agent, the lettings service I offer for landlords is an advert only/tenant finding service and we only charge the tenant £99 for the referencing etc.

At the end of the day we're here to make a living but £300 to reference someone and register a deposit in my opinion is a lot of money for the actual work involved.
That's just my opinion, agents can pretty much charge what they like!
Click to expand...

Scotland here, have been charged the sum total of **** all for the entire time here and 0 before moving in by my agent. The agencies should (and do) make money from management fees that they charge landlords - (trying to leverage extra from the tennents or even potential tennents!) is wrong.
 
Agents have had their letting and management fees squeezed in recent years and do try making up the shortfall in other ways. The fee quoted in the OP is extortionate though. 100 quid would be more the norm in Northern Ireland and is perfectly reasonable reflecting the work done. Agent here
 
You must log in or register to reply here.
Back
Top Bottom