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Tenant Fees - Infuriating

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ultimatefighter
ultimatefighter Posts: 137 Forumite
First Post First Anniversary Combo Breaker
in House buying, renting & selling
I am about to move into a property however as a tenant, the agency want £355 in fees.


£240 for admin
£115 for check in


Tenant ref actual cost £20
Tenancy agreement cost £0 as copied and pasted from others simply time (doesn't take an hour to amend details)
Survey of Property.


I spoke with the director of the letting agency who did not want to reduce fees whatsoever. He was not up for negotiating in the slightest.


What can one do about this aside from pay the £40 to £50 it costs for the survey oneself and avoid the £115


But the £240 for admin... that's £220 spare..


the landlord is also being charged.
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  • Guest101
    Guest101 Posts: 15,764 Forumite
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    You can... find somewhere else to rent.


    That's it. Those are the fees, pay up or walk away
  • bebewoo
    bebewoo Posts: 622 Forumite
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    Yes it's a ripoff but until the law changes the parasites can get away with it.
  • tom9980
    tom9980 Posts: 1,990 Forumite
    Name Dropper First Post First Anniversary I've helped Parliament
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    ultimatefighter wrote: »
    I am about to move into a property however as a tenant, the agency want £355 in fees.


    £240 for admin
    £115 for check in


    Tenant ref actual cost £20
    Tenancy agreement cost £0 as copied and pasted from others simply time (doesn't take an hour to amend details)
    Survey of Property.


    I spoke with the director of the letting agency who did not want to reduce fees whatsoever. He was not up for negotiating in the slightest.


    What can one do about this aside from pay the £40 to £50 it costs for the survey oneself and avoid the £115


    But the £240 for admin... that's £220 spare..


    the landlord is also being charged.

    You missed out business rates, taxes, National insurance, electricity/gas, wages, rent for premises, accountants fee's and a whole host of other costs the Agents must account for before making a profit.

    Although make no mistake i am not a fan and don't use agents at all.
    When using the housing forum please use the sticky threads for valuable information.
  • Naf
    Naf Posts: 3,160 Forumite
    First Anniversary First Post Combo Breaker
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    Unfortunately you can either bend over & spread for them; or take your business elsewhere.
    It stinks, as does the blatant conflict of interest, but nobody seems keen on doing anything about it.
    Never argue with stupid people, they will drag you down to their level and then beat you with experience.
    - Mark Twain
    Arguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.
  • Miss_Samantha
    Miss_Samantha Posts: 1,197 Forumite
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    Do you know how much Coca-Cola actually costs? Yet people seem happy to buy a lot of the stuff at the price stores and restaurants charge.

    What something costs a provider is never relevant, only what a consumer is willing to pay is. That's how commerce works.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    First Anniversary First Post
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    All you can do (next time) is restrict your rental search to the agents with the lowest fees, which is a PITA bit of research to do first.

    It would be nice if the search engines published the fees on each advert (or even made them searchable/filterable)!
  • [Deleted User]
    [Deleted User] Posts: 7,323 Forumite
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    Unless you get people like me. I went to three LA's to find a rental property. Two were charging under £100. One charged £500 in admin fees - and to make matters worse the house was only £600 a month. So guess who I walked away from?
  • Marktheshark
    Marktheshark Posts: 5,841 Forumite
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    With immigration at 300k a year, I suggest you get in and get your head down.
    I do Contracts, all day every day.
  • pelirocco
    pelirocco Posts: 8,274 Forumite
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    You have forgotten the credit checking fee
    I have had 2 employees lose a lot of money over this fee , because in our area rented property is in high demand , they have had to give a large deposit to secure the property before being credit checked . They both failed the check and lost their deposit .........nice work if you can get it
    Vuja De - the feeling you'll be here later
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    Name Dropper First Post Photogenic First Anniversary
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    Your choices are:

    1. Walk away

    2. Accept the fees if you really want this property.

    3. Move to Scotland where such fees are unlawful.
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