Retention fees on rented student house

Redmikee

Hi all,

My daughter is currently residing in halls but looking to rent a house next year with friends.
She has had a look around a few houses but she is being asked to pay a retention fee which is non refundable.
If they needed a few months rent up front then fine but to have to pay an additional fee which is basically just a hidden cost of renting seems to be a rip off.
My son is renting in Newcastle and didn't have to pay a retention fee.
My daughter is looking to rent in Coventry, is this normal practice for the area?
Forgot to say the amounts requested are £320 and £360, the more expensive one also asked for £75 to process three cheques.:eek:
Thanks

Mike

amiehall

Encourage her to look at private landlords, the university might publish a list of landlords that have registered with them. Agency fees are a NIGHTMARE that imo is best avoided.

SpottedLeopard_2

Second private landlord idea. I rented in Coventry area (this was 5 years ago though) through a private man, who subsequently went through the university after our year was up. £50 per week I think, water included, other bills excluded, with £200 or 250 returnable deposit upfront. The uni should be able to recommend, start having a look now or in early January for next Sept - might be a bit early, but at least you can be aware of what's available

Annisele

Is she at Coventry or Warwick? I know Warwick manages quite a lot of off-campus accommodation, and going though the university means less in the way of fees (though it also means she won't get her degree if she doesn't pay). Coventry may well have a similar scheme.

kazzah60

I live in Coventry ( sorry- no accommodation available - otherwise I'd offer to have her!)
my son is in his 2nd year at Liverpool Uni - he didn't have to pay a retention fee OR a deposit or even any rent in advance!
I was VERY surprised that they didn't want a deposit - but the landlady says it's too much hassle to administer and as long as they sign to contract- that was sufficient
he pays £66 per week for rent and utilities up to £2400 in the year
HTH
Karen

rev_henry

Is this a fee basically in lieu of rent over the summer?

Cat2011

When I was at uni it was standard practice for landlords to charge you 2xhalf month rent as a "Summer retainer". Unfortunate, but it's what all the landlords did.

rev_henry

Cat2011 wrote: »

When I was at uni it was standard practice for landlords to charge you 2xhalf month rent as a "Summer retainer". Unfortunate, but it's what all the landlords did.

Yup, this year I had to pay the full 2 month's rent. I'm not doing it again though - £650 for nothing is ridiculous.

RosieBee_2

Hello,

Landlords generally charge students "Summer retainers" for the house they have chosen to live in. As most students find places to live for the next academic year before the summer to make sure a place is secured for them, the landlords add this fee on because they will be losing out on a whole summers worth on rent waiting for students to move in.

It does seem unfair for the students to have to pay this, but in most cases, landlords offer a reduced rent over summer or a fixed fee which is significantly lower than the weekly rental fee.

In my last year of uni, I had to pay a £100 summer retainer. My rent was £68 a week, so taking this in consideration, i've only paid a week and a half (if that) worth of rent to secure the house for a whole summer.

I have known landlords around my university to charge up to £500 for a summer retainer.

Saying that - the £75 processing fee for the cheques seems ridiculous. I would challenge that.

Hope this helps

amiehall

I've always wanted access to my house over the summer so I guess I don't see paying rent as unreasonable....

dollywops

In Birmingham, rentals run from 1 July to 30 June. DS did not have to pay a deposit, but that was the landlord's choice. DD paid a deposit last year and this was refunded after she vacated the house. She has paid a depost for this year (her last), and will get this back when she vacates.