Any letting agents reading this?

theartfullodger

Oh, we realize those hours. As a landlord I'be never charged fees..

If it takes hours to do something so simple some people might wonder at training or intelligence levels.....

Cheers!

Mozzanov

nick100*2007 wrote: »

I work for a nationwide agent. Tenant fees £210 per applicant and £120 per guarantor if required.

Sometimes, people don't realise the hours that go into getting a tenant moved in. I have frequently invited complaining tenants to spend the day with me but no takers yet!

Would you want to spend the day with a tenant? (Imagine spending the day the worst one you've come across.)

Actually, the agency I spoke to today (two of the people) were a lot different from the last one. They weren't completely soulless and trying to grab my money at the earliest possible opportunity (the lady I did the viewing with even gave me some tips on what to avoid). They are very expensive (£300), but the very essence of evil one charged £25 more. So, I don't think it can be said you get what you pay for. You get what someone feels motivated to give you. You can go elsewhere, but selecting somewhere to rent is very different to buying a laptop. My local computer shop might give me a better deal that PC World for the same laptop, but another letting agent doesn't always have the same property.

Callie22

nick100*2007 wrote: »

I work for a nationwide agent. Tenant fees £210 per applicant and £120 per guarantor if required.

Sometimes, people don't realise the hours that go into getting a tenant moved in. I have frequently invited complaining tenants to spend the day with me but no takers yet!

Just out of curiosity, could you break down those fees? For example, what are the costs that make them up? Just hazarding a guess here, but even assuming a 50% profit you're saying that it costs £105 per tenant to move them into a house. Lets say you're on £10 per hour - and lets take off £20 for the basic credit check you'll run, and another £10 for your office overheads - that leaves £75. So approximately 7.5 hours of 'work' per tenant to get them moved in?

What do you do that takes that long? As a tenant, all I've ever been given on moving in is a standard tenancy agreement with the dates amended and deposit protection information (and I've usually had to pay extra to get my deposit protected, locally to me that's another £50). Oh, and there's usually (but not always) been an inventory too, but I'm assuming that you've charged the landlord for that under 'check-in' fees. The credit checks are outsourced so beyond paying for those and faxing a document you're not actually doing the legwork there. I'd guess that there's a few phone calls, but in my experience work and personal references aren't ever contacted, and in general it's the tenant (and presumably the landlord too) that does most of the chasing. So I'm struggling to see how the fees can really be justified, especially when you're charging a couple £420 when it's not really double the work, and when you're also charging the landlord on top of that.

nick100*2007

In my area, it very much is a case of you get what you pay for although I understand what you're saying. I think tenants would rather go through a large agent and pay more than through a one man band letting agent and especially a private add.

There is so much red tape around what we must do and out professional diligence etc, I think from a tenant or landlords point of view it's good to know they're not responsible for complying with all the laws, that's the agents job. If the agent does something wrong then it's their fault! I know of landlords who have had hefty fines for not having EPC's ang correct gas and elec certs. Let the agent take all the responsibility but you have to pay for it. If not, make a few extra quid but run the risk of doing something wrong.

Mozzanov

I read through the tenancy agreement today (after viewing the property - for a change, they didn't cry or say this isn't like the one you will sign or something else utterly stupid), but complying with the laws or similar is the furthest thing from it. In fact, there was a clause relating to if the agent or landlord causes damage, that comes out of the tenant's pocket. Absolutely ridiculous, IMO. But all tenancy agreements will be just as bad in one way or another from any agent, it seems.

So, I don't see what headaches the agent takes from me. Just a middle man/woman grabbing as much money as they can from both tenant and landlord. (The benefits you mention are for the landlord - EPCs, gas and electric documentation.)

Callie22 makes some very good points and makes me think I would be paying £300 for just credit checks and references. And for them to print some documents. (If they reduce the fee by £100, I can print the the documents, save them on toner and paper.)

nick100*2007

There are some dodgy agents and you're right about the clause if the landlord or agent causes damage! That is just embarrassing. I agree that agents benefit landlords more than tenants. I would have thought that a tenant would be more comfortable going through an agent, but you have to pay for the peace of mind. If you don't want to pay it then try the private ads in your paper or gum tree! But how can you be sure your deposit will be registered in a scheme and not pocketed?

ValHaller

nick100*2007 wrote: »

I know of landlords who have had hefty fines for not having EPC's ang correct gas and elec certs.

Landlords fined for not having correct electrical certs? Do tell us more.

nick100*2007

If you rent any property or have any buildings to let which you manage then failure to keep your electrical appliances serviced and abiding by the Electrical Equipment (Safety) Regulations 1994 and The Consumer Protection Act 1987 is considered a criminal offence which could lead to you being fined £5000 per electrical item found to not be under compliance. Failure to comply can also lead to a 6 month prison sentence and the voiding of any property insurance.

Mozzanov

@nick100*2007, It's just as theoretical peace of mind. I'm with a housing association and have actual peace of mind (unfortunately, I do need a larger property and closer to work and school, or I would stay until I can find a place to buy and as my wife and stepdaughter aren't here yet, my application is considered as a single person, so I can't get a HA property). On the other hand, you read these contracts and it just seems to scream they are looking for every opportunity to make some money. Perhaps I am too cynical.

Nothing personal meant against you. It's just your job. I don't know you and for all I know you might actually be a nice person. I do thank you for taking the time to make these posts, show a view from the other side. It's interesting.

nick100*2007

Thank you, whoever started this whole thread was right. We are constantly being slated but we're not ALL bad........trust me, I'm an estate agent....