Silly letting agents fees

princeofpounds

Prove your statement. It is just rubbish.

Whilst it may be hyperbole (in the sense that some letting agents will have degrees, and some may have a layman's understanding of tenancy law), it is absolutely true that Letting Agency is not a profession and there are no qualifications for entry.

There is no professional body of knowledge to be a specialist in, although someone with experience may be a valuable advisor.

I would also note that this discussion is about fees between agent and tenant. This normally relates only to manual administration like referencing, and there is no advisory service performed at all (after all, the LA works for the LL and not the T).

So there is no knowledge being paid for here, unless it's the knowledge of how to use a pen and telephone.

[Deleted User]

princeofpounds wrote: »

I think one thing that could be done is to make it clear that LAs work only for the LLs and can charge only the LLs.

This is the law in Scotland. I have no idea why it hasn't been introduced in the rest of the UK. It means that LAs make have to make their money by actually letting flats/houses, rather than by turnover of tenants and the associated fees.

princeofpounds

I have no idea why it hasn't been introduced in the rest of the UK.

Well the former housing minister, Shapps, was against.

Putting cynical explanations aside (which I don't think actually have that much merit) I think it comes down to two things:

1) Renters (and specifically young renters) have simply not organised into a political pressure group. Probably too busy trying to make their next rental payment! But joking aside, with owner-occupation at ~70% levels, and the rest split 50/50 between social and private renting they are not going to be first in line for political consideration unless they get noisy.

2) He probably has an aversion to regulation of free markets, and would see it as more government meddling.

Personally I'm very sympathetic of this view. Government meddling is frequently the wrong thing to do, and the kneejerk reponse of many.

But I do also think that many pro-free market politicians only have a loose understanding of market economics. There are distinctions between markets that work exceptionally well with minimal interference, and there are markets that don't.

But frankly the first time you talk about 'illiquid heterogeneous oligopolies' and similar terms in a public debate no-one will understand you, and even most civil servant involved in the area will probably only grasp a portion of what you are saying.

sinbad182

k0sh wrote: »

Prove your statement. It is just rubbish.

Its not rubbish - Estate agents are bad, letting agents take unregulated, know nothing cowboys to the next level.

Do you think the general consensus on the profession has just materialised from nothing?!

k0sh

sinbad182 wrote: »

Its not rubbish - Estate agents are bad, letting agents take unregulated, know nothing cowboys to the next level.

Do you think the general consensus on the profession has just materialised from nothing?!

I objected to "most letting agents" which to me means over 50% which is just rubbish.

If the letting agents know nothing then thery would be taken to coutrt or arbitration or both. They would learn their business pretty sharpish.

Lets just stick to facts instead of spouting manure which is only good for flowers.

rev_henry

thelem wrote: »

Very unlikely - the fees go to the agency, but up front rent benefits the landlord. Gumtree.co.uk and findaflat.com are quite good for finding private lets.

Ah right. Yeah been having a look there. I think, though, that the type of flat I'm looking at tends to be a company owning the whole block and contracting an agent. I think!

RupertTheCat wrote: »

I am a landlord with a couple of properties in Manchester, and I get charged a month's rent plus VAT by letting agents - that's without even doing an inventory as I do that myself. I don't have a clue what they charge the tenants, but they're obviously making a bit out of it. £100 doesn't sound too bad for the tenant, £400 sounds over the top. Shop around - some estate agents are way cheaper, but do NOT use Belvoir in central Manchester. Nightmare.

The only way to avoid "silly fees" is Gumtree really.

Lol yeah Belvoir were my example of the upper end of the scale, they look a joke. They have a small flat in Beetham Tower, 4 figure rent, listed under 'student properties'!!!

Out,_Vile_Jelly wrote: »

"Specialist knowledge"? Most letting agents are school leavers with no qualifications, formal training, or knowledge of housing law.

OP- do you receive a bursary? If so, evidence of that suffices as proof of income for most LLs. Remember if there is a non-student occupant of a property, you will be liable for Council Tax.

Yeah I agree with you about agents, the two I've used thus far have been charlatans to some degree or other. Yes I do get a bursary, loan etc. Also it won't be a problem to provide 2 guarantors.

rev_henry

dimbo61 wrote: »

We own several properties in the manchester student areas ie Fallowfield and Victoria park. Everything from 10 bedroom HMO,s to 1/2 bedroom flats
We do not use letting agents and we do use Manchester Student Homes who operate a landlord accreditation scheme !!!!
The good guys !
Check it out

Thanks, I'm well aware of MSH and have used accredited landlords for the past couple of years. Its a good service my uni provides. However, next year we're wanting to move out of the student ghettos which tends to mean landlords who aren't studenty landlords.

englishrose19

short answer: yes, you have to pay.

englishrose19

rev_henry wrote: »

Ah right. Yeah been having a look there. I think, though, that the type of flat I'm looking at tends to be a company owning the whole block and contracting an agent. I think!


Lol yeah Belvoir were my example of the upper end of the scale, they look a joke. They have a small flat in Beetham Tower, 4 figure rent, listed under 'student properties'!!!



Yeah I agree with you about agents, the two I've used thus far have been charlatans to some degree or other. Yes I do get a bursary, loan etc. Also it won't be a problem to provide 2 guarantors.

Don't forget you often have to pay to have a guarantor.

sinbad182

k0sh wrote: »

I objected to "most letting agents" which to me means over 50% which is just rubbish.

If the letting agents know nothing then thery would be taken to coutrt or arbitration or both. They would learn their business pretty sharpish.

Lets just stick to facts instead of spouting manure which is only good for flowers.

They rely on the fact that most tenants dont know their rights, and what the letting agent should and shouldn't be doing. The fact they are not regulated means they can operate prety much as they please, with little regard for the consumer.

The vast majority of letting agents are useless at what they do and only exist due to the fact housing is in such demand the consumer has to swallow it.

I'm sorry that you're part of a such an abhorent industry, but that doesnt change anything.

They are an unregulated, unprofessional, uneducated and immoral bunch - Fact.