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Fees - Is This Normal?
Comments
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Do you have to pay a check in inventory fee and a check out inventory fee ?
Yep. £180 each time. £160 for references, £160 for a tenancy agreement, £180 for admin.
I know they have costs, but £160 for a tenancy agreement? Really? £180 for admin seems rich too.
This sounds ridiculous. Are they seriously asking you to pay a total of £680 in FEES just to move in???? That is a complete joke.
If you've paid £160 for reference/credit checking, £160 for a tenancy agreement AND £180 for an inventory - what admin is left to charge another £180 for????
This doesn't sound normal at all.0 -
When I last rented from an agency I think I paid:
£105 inventory fee
£125 credit check/references
£125 contract
so £355
I also asked if the Landlord would be willing to negotiate a lower rent as I thought it was a little high - they wouldn't even consider asking the LL.
The fees charged are obviously a lot higher than what it actually costs i.e. on the tenancy agreement they just copy/paste your name and the landlords name etc. into their standard one.
Unfortunately there isn't much you can do about it as they aren't interested in anything apart from their profits (you can compare them to recruitment agents).
After that I rented from a private landlord and didn't get charged any fees by them - just paid the rent and deposit. The problem here is that most of the houses are advertised by agencies so you have less choice.0 -
Maginot may be referring to using the deposit as the last months rent - I don't think this is allowed anymore as the deposit has to be protected and can't be used as a rent paymentRent is always payable in advance from the start of the tenancy - the OP paying one month in advance merely covers the first month not the last one too.0 -
All fees should be posted in the letting agent window by law
Which law is that? I've never seen any such notices! My letting agent doesn't even have a window. The only charged us a single fee of £140 each though, which covered everything.
Anyway, I've never had to pay a fee just for the tenancy agreement - surely that is part of the "admin" you are paying a separate fee for? These agents sound like complete cowboys.0 -
I think maybe whalster meant by "All fees should be posted in the letting agent window by law" was that it ought to be the law?mynameisclare wrote: »Which law is that? I've never seen any such notices! My letting agent doesn't even have a window. .
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Thanks for your responseMoneySavingUser wrote: »Maginot may be referring to using the deposit as the last months rent - I don't think this is allowed anymore as the deposit has to be protected and can't be used as a rent payment
A T failing to pay the last month's rent in lieu of seeking the return of their tenancy deposit has never been "allowed" as such, except by explicit agreement between LL & T, because the tenancy agreement requires the T to pay on time and in full for the duration of the tenancy. Any T who tries that one on leaves themselves open to court action for recovery of unpaid rent, plus LL's costs in pursuing the issue.0 -
I suppose this is the problem with letting. I was prepared for fees, but in total I'll have paid £1100 in fees (£600ish here and £500 already paid).
How does the £1100 fees break down? That sounds a hugely over charged amount to me - but with a breakdown it may help justify it somehow.
It explains why my new tenants were so happy with a £30 credit check as the only fee!Remember the saying: if it looks too good to be true it almost certainly is.0 -
Talk to the landlord and get them to negotiate and pay all the fees out of the rent.
the LL and yourselves can do an inventory and both save money.
Make sure there are no fees to go periodic at the end of the initial term.0 -
See OP's follow up post , no 6, for breakdown. S/he has included what sounds to be a holding deposit of 500 quid in that £1100.How does the £1100 fees break down? That sounds a hugely over charged amount to me - but with a breakdown it may help justify it somehow.
It explains why my new tenants were so happy with a £30 credit check as the only fee!
However, even accounting for that, this LA is clearly a rip-off merchant.0 -
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