Agent fees: 508 pounds - is it normal?

mlndo-7

Hi,

I have decided to rent a 2-bed cottage in Orpington, BR6.
The rent is 1100 pounds per month.
I've payed the holding deposit (400 pounds).

The agent has sent me the "subject to contract" letter.
It has a breakdown of the initial payment:

1 month rent (OK)
Security deposit (OK)

Reference fees - 150 pounds
Tenancy agreement - 150 pounds
Administration charge - 100 pounds
Check in - 108 pounds

It looks like that agent is going to charge me 508 pounds for their services.
They did NOT tell me in advance (or at least I do not remember) how much they are going to charge me.

Is it too much? Is it a rip-off?
Is it just an average agent's fee these days?

I need an advice.

Thank you in advance

Maxim

pmlindyloo

mlndo-7 wrote: »

Hi,

I have decided to rent a 2-bed cottage in Orpington, BR6.
The rent is 1100 pounds per month.
I've payed the holding deposit (400 pounds).

The agent has sent me the "subject to contract" letter.
It has a breakdown of the initial payment:

1 month rent (OK)
Security deposit (OK)

Reference fees - 150 pounds
Tenancy agreement - 150 pounds
Administration charge - 100 pounds
Check in - 108 pounds

It looks like that agent is going to charge me 508 pounds for their services.
They did NOT tell me in advance (or at least I do not remember) how much they are going to charge me.

Is it too much? Is it a rip-off?
Is it just an average agent's fee these days?

I need an advice.

Thank you in advance

Maxim

Unfortunately they can charge what they like. Sounds very high to me.


Not sure what you can do about it. Pull out and lose your holding deposit is probably the only option.


Hope someone else might have a bright idea.

Werdnal

This question is asked here atleast once a week.

Letting agents are totally unregulated (no compulsory industry registration, minimum qualifications or experience necessary), and can basically charge what they want ... or what they think they can get away with.

This price does sound on the high side of average, but why did you not think to ask how much you would be paying in advance, and walk away if you didn't like it?

Of the breakdown you have given, I think you could query the Admin Charge, as I would have thought that should be covered in either the tenancy agreement or the check-in items.

BitterAndTwisted

That's a total rip-off!

Reference fees - 150 pounds Actual cost to them is between a tenner and twenty quid

Tenancy agreement - 150 pounds Two minutes in Word amending a draft contract.

Administration charge - 100 pounds Pure profit

Check in - 108 pounds If you pay that then the landlord should be bearing the cost of the check-out inspection. Check the contract before you sign it and DO NOT allow them to charge you for the check-out as well.

theGrinch

if they did not disclose these fees beforehand, then its obvious they have something to hid - usually high fees. It seems high, but they can charge what they like - its up to you to accept of reject.

mlndo-7

> If you pay that then the landlord should be bearing the cost of the check-out inspection. Check the contract before you sign it and DO NOT allow them to charge you for the check-out as well.


Thanks for that!

sooz

Does the agent's name start with F?