PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

MSE News: Letting agency fees 'truly out of control'

Options
"Tenants are having to go without food and heating to cover 'out of control' letting agency costs, says Shelter..."
Read the full story:

Letting agency fees 'truly out of control'

OfficialStamp.gif

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
«1345

Comments

  • beetlejoose
    Options
    It's not just the up-front fees either.
    1. Every year I have to pay £120 to renew my tenancy for another year
    2. When my girlfriend moved in, I had to pay an additional £120 to update my tenancy
    3. When I requested to purchase a family dog, I had to pay - you guessed it - another £120!

    I can't wait to buy my own house and give my letting agents the finger.


    Sebastian
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    it's not just the up-front fees either.
    1. every year i have to pay £120 to renew my tenancy for another year
    move to a periodictenancy. Free.
    1. when my girlfriend moved in, i had to pay an additional £120 to update my tenancy
    did youdiscuss this with your landlord?
    1. when i requested to purchase a family dog, i had to pay - you guessed it - another £120!
    many (most) tas prohibit dogs- for good reasons. Lucky you gotconsent!
    :t.................................. :t
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    Landlords also have a responsibility for many of the extortionate letting agents fees.

    Many LLs have no idea what their (yes, their) agents are doing. They rashly delegate far too much responsibility to the agent.

    When selecting an agent, the LL should not just check what the agent will charge the LL, and what they will do for that fee, but also how they will treat their (yes, the landlord's) tenant and what they will charge them.

    And boycot an agent who is going to alienate his (the LL's) tenant.
  • Reue
    Reue Posts: 569 Forumite
    Options
    It's not just the up-front fees either.
    1. Every year I have to pay £120 to renew my tenancy for another year
    2. When my girlfriend moved in, I had to pay an additional £120 to update my tenancy
    3. When I requested to purchase a family dog, I had to pay - you guessed it - another £120!

    I can't wait to buy my own house and give my letting agents the finger.


    Sebastian

    All 3 avoidable charges :)
  • mystery1100
    mystery1100 Posts: 120 Forumite
    Options
    whats worse is when the letting agent then charges you the same fee again if you were to move to a new property with the same agent, even though they have done all the referencing etc and know you're a good tenant
  • BitterAndTwisted
    BitterAndTwisted Posts: 22,492 Forumite
    First Post Combo Breaker
    Options
    Of course letting-agency fees are out of control: it's a seller's market and there's absolutely no regulation. And I can't see any regulation forthcoming either, alas.
  • Manchee
    Manchee Posts: 401 Forumite
    Options
    Reue wrote: »
    All 3 avoidable charges :)

    Not necessarily, for instance if the LL doesnt want the tenant to go onto a periodic tenancy, if he wants more security, he doesnt control how much the letting agent charges. Same with all the other examples. Sure, the LL is in charge but the LA controls the cost of all of these things. Unless you're advocating not informing the LL about additional occupiers or pets.
    whats worse is when the letting agent then charges you the same fee again if you were to move to a new property with the same agent, even though they have done all the referencing etc and know you're a good tenant

    Ugh, totally. And whats with the stoopidly expensive credit check when we all know it really only costs 10-35 quid???
  • beetlejoose
    Options
    Thanks Reue and G_M.

    Perhaps some further information on how I might avoid paying my annual renewal would benefit other forum users as well as myself.

    Cheers
  • beetlejoose
    Options
    Manchee wrote: »
    Unless you're advocating not informing the LL about additional occupiers or pets.

    Agreed; I didn't get around to / didn't even consider announcing the change in my relationship status, so I didn't kick up a fuss when the LA discovered the change themselves.

    Also: My LA doesn't always keep their end of the bargain (not turning up for inspections after I've booked the day off etc) so I'm even less inclined to pay the fees.

    I understand that "if you don't like it, find another house" but as money savers and sensible human beings, I think you can appreciate that this isn't really an option.
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    Thanks Reue and G_M.

    Perhaps some further information on how I might avoid paying my annual renewal would benefit other forum users as well as myself.

    Cheers
    Ending/Renewing an AST (what happens when the Fixed Term ends?)(What is a Periodic Tenancy?)(How can a LL remove a tenant?)(How can a tenant end a tenancy?)
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.6K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.8K Work, Benefits & Business
  • 608.8K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards