Outrageous Letting agent fees!!!!!!!!!!!!

Zoology_Dragon

We are both tenants and landlords and were shocked at the difference between the two letting agencies.

Our agent for letting:

Credit check: ~100 pounds (sorry pound sign doesn't work)
Deposit: 1 month's rent + 100

Our agent for renting:

Credit check: >300
Deposit: 1.5 x month's rent

It ended up costing us nearly 3k to pay our deposit and first month's rent upfront. Then the 300+ for the credit check. Well over 3k in total and that was before we had to hire a van to move all our stuff from one end of the country to the other. Yet the agent who manages the property we let out charges so little in comparison.

I honestly don't know how people afford this. We could only do it because my uncle very generously loaned us 2.5k (now paid back, see sig).

brownbabygirl

Zoology_Dragon wrote: »

I honestly don't know how people afford this. .

I think this just highlights the importance of building up savings of at least 3 months wages.

asharon

I placed an advert in a local paper, my gazette and said what I was looking for, a place that allowed two dogs and I got plenty of calls. Maybe try again ?

Zoology_Dragon

brownbabygirl wrote: »

I think this just highlights the importance of building up savings of at least 3 months wages.

We were students for 10 years (hence the debt! :rotfl:) and had been living on next to nothing while H supported me as I finished my PhD. We also owned our own place so had never had the shock of paying a large deposit before. Obviously now we will make sure we have enough for a deposit for the next time we move but we all have to start somewhere!

Emma1973

I heard a good one today, colleague at work has just started renting out a house. They have to pay the finders fee of £500 (how much the house is renting at), the tenant has to pay £500 admin fees, 1 1/2 X times deposit, £750 and months rent in advance! LA makes £1000 straight away, tenant has to find £1750! I'm in the wrong game! :rolleyes: