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  • FIRST POST
    • vincentford118
    • By vincentford118 6th Sep 17, 9:56 AM
    • 1Posts
    • 0Thanks
    vincentford118
    Should I have to pay estate agents for a guarantor?
    • #1
    • 6th Sep 17, 9:56 AM
    Should I have to pay estate agents for a guarantor? 6th Sep 17 at 9:56 AM
    Hi All,

    I'm moving into my first rental house with my partner, we're both 25yr.
    We have paid the estate agents £290 Admin fee, plus 2x £110 for 2 referencing checks (£510 in fees so far)

    We've been told because my income is where the majority of the rent will come from, we will need to get a guarantor because I'm within my probation period, even though our joint income is about £35k annually.

    In order to get a guarantor we've been told we need to pay another £120! Is the estate agents in their rights to do this?


    Many thanks,
    Vince
    Last edited by vincentford118; 06-09-2017 at 10:16 AM.
Page 1
    • macman
    • By macman 6th Sep 17, 10:08 AM
    • 41,291 Posts
    • 16,954 Thanks
    macman
    • #2
    • 6th Sep 17, 10:08 AM
    • #2
    • 6th Sep 17, 10:08 AM
    Yes, because it requires them to do further credit checks and documentation. Which doubtless costs less than £120, but then that's how they make their profit. Expect further fees for check-in, inventory, etc.
    PS: since you have named the agent, it's perhaps not a good idea to use your real name as your MSE username...
    No free lunch, and no free laptop
    • bxboards
    • By bxboards 6th Sep 17, 10:09 AM
    • 1,291 Posts
    • 1,025 Thanks
    bxboards
    • #3
    • 6th Sep 17, 10:09 AM
    • #3
    • 6th Sep 17, 10:09 AM
    The referecing fees are very high - however a guarantor will need to be credit checked, and if you need a guarantor to rent you have no choice.

    If you do not agree to a guarantor you won't be able to rent the property.

    For future reference when looking for places to rent, try Openrent no fees apart from 20 for each person referenced.
    • Guest101
    • By Guest101 6th Sep 17, 10:19 AM
    • 15,147 Posts
    • 14,746 Thanks
    Guest101
    • #4
    • 6th Sep 17, 10:19 AM
    • #4
    • 6th Sep 17, 10:19 AM
    Hi All,

    I'm moving into my first rental house with my partner, we're both 25yr.
    We have paid the estate agents £290 Admin fee, plus 2x £110 for 2 referencing checks (£510 in fees so far)

    We've been told because my income is where the majority of the rent will come from, we will need to get a guarantor because I'm within my probation period, even though our joint income is about £35k annually. - How can they know you are in a probation period? or how you will split the rent?

    In order to get a guarantor we've been told we need to pay another £120! Is the estate agents in their rights to do this? - Yes


    Many thanks,
    Vince
    Originally posted by vincentford118


    Do you have a guarantor?
    • agrinnall
    • By agrinnall 6th Sep 17, 12:02 PM
    • 18,413 Posts
    • 14,126 Thanks
    agrinnall
    • #5
    • 6th Sep 17, 12:02 PM
    • #5
    • 6th Sep 17, 12:02 PM
    Yes, of course you should, this is one of the few occasions when I think reasonable fees are justifiable.
    • WibblyGirly
    • By WibblyGirly 6th Sep 17, 12:11 PM
    • 199 Posts
    • 388 Thanks
    WibblyGirly
    • #6
    • 6th Sep 17, 12:11 PM
    • #6
    • 6th Sep 17, 12:11 PM
    I wasn't charged fees for my guarantor. I paid £96 in referencing fees for 2 of us for a place in Wales. That's all I pay for fees too.
    Could you offer to pay a few months up front then go monthly?
    • saajan_12
    • By saajan_12 6th Sep 17, 12:22 PM
    • 757 Posts
    • 495 Thanks
    saajan_12
    • #7
    • 6th Sep 17, 12:22 PM
    • #7
    • 6th Sep 17, 12:22 PM
    Legally? Yes
    You're not obligated to pay for a guarantor but they LL/LA isn't required to accept you as a tenant. If you want to rent the property though, you'll have to come to an agreement and sounds like the LL/LA will only agree if they are paid the guarantor fee.

    Fairly? Yes
    To get the protection of a guarantor, the LL/La needs to perform many of the same affordability and reference checks on the guarantor as a tenant
    and get an extra deed of guarantee drafted, signed and witnessed. This does come at a cost over and above that expected for a tenant who didn't need a guarantor. I think the reasonable cost of this should be bourne by the tenant as this is an extra cost due to their situation. Otherwise it wouldn't make sense to even consider tenants with lower incomes who need a guarantor.
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