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Estate agent's fees
Herbalus
Posts: 2,634 Forumite
I'm interested to know what fees estate agents charge for renting a property. Hopefully such information could help chances of negotiation and enable people to see who is ripping them off.
The one who markets the property I'm looking at charges:
£175 + VAT for admin
£100 + VAT each for references
I was told this morning that students, which I am, do not undergo reference checks, but the fee would still apply!!! Utter madness. I asked them what they would use the fee for if no reference check was done, and the reply was that we could talk about that after I'd submitted the application form.
The one who markets the property I'm looking at charges:
£175 + VAT for admin
£100 + VAT each for references
I was told this morning that students, which I am, do not undergo reference checks, but the fee would still apply!!! Utter madness. I asked them what they would use the fee for if no reference check was done, and the reply was that we could talk about that after I'd submitted the application form.
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Comments
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Depends on a whole host of factors but basically most Agents will charge what they can get away with. Also depends on your location, but broadly speaking the £175 Admin fees sounds reasonably representative of the market. The referencing sounds a bit of a rip off (I've just been charged £27 by an Agent).0
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Be very careful that what you sign does not have a clause for renewal fees. It's a common scam fro letting agents for both tenants and landlords.
Write next to where you sign in big letter, no further payments due now or in the future, or something to that effect.0 -
Be very careful that what you sign does not have a clause for renewal fees. It's a common scam fro letting agents for both tenants and landlords.
Write next to where you sign in big letter, no further payments due now or in the future, or something to that effect.
We're only planning on being there 12 months, so no worries about renewal fees there. And I'm quite happy to ignore all requests for a new contract anyway
I've seen letters from a letting agent offering to "negotiate" (which means pressing print) a contract renewal for £250. Shredded with a chuckle.0 -
The fees are whatever they can dream up and get away with. Why not lead the negotiations yourself?0
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