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Letting agency, money upfront?
david29dpo
Posts: 3,963 Forumite
I let a few houses out so when a friend wished to do the same i helped him along his way.
He used a local agent (one off fee of £299) and found a excellent tenant quickly (£575 PM)
I then leaned the agent took the deposit and one months rent upfront (fine) but also £600. This is for £100 PM for 6 months. Therefore the tenant pays £475 PM to the LL and the agency pays £100 PM for 6 months (the length of the contract)
I have never heard of this before.
I spoke to the tenant and has she had never rented before, thought it was normal.
I have told him to ring the agent to find out why.
Any thoughts?
He used a local agent (one off fee of £299) and found a excellent tenant quickly (£575 PM)
I then leaned the agent took the deposit and one months rent upfront (fine) but also £600. This is for £100 PM for 6 months. Therefore the tenant pays £475 PM to the LL and the agency pays £100 PM for 6 months (the length of the contract)
I have never heard of this before.
I spoke to the tenant and has she had never rented before, thought it was normal.
I have told him to ring the agent to find out why.
Any thoughts?
0
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