Fees Apply?

Struthus

Looking for a place to rent & wondered why we keep being asked to pay such high fees to have us checked? In some cases up to £300 each. I understand they need to be checked but don't understand why it costs so much. Estate Agents call it an administration fee! We don't get this back either even if they pick other tenants apparently. It's non returnable! We are both in rented accommodation at the moment & neither of this had to do this before 6-8 years ago.
Thank you! Have a lovely evening peeps :mad::mad::mad::eek::rotfl:

G_M

Why?

Because letting agencies are in the business of making money.......

Heliflyguy

G_M wrote: »

Why?

Because letting agencies are in the business of making money.......

So you good with energy companies et al charging you whatever they like as they "are in the business of making money" or are you just being ironic.

Truth is unlike the energy companies and most other businesses that have a hold over certain necessary resources they are unregulated and can rip you off as they wish.

Struthus

Heliflyguy wrote: »

So you good with energy companies et al charging you whatever they like as they "are in the business of making money" or are you just being ironic.

Truth is unlike the energy companies and most other businesses that have a hold over certain necessary resources they are unregulated and can rip you off as they wish.

Thank you. It's what I thought! We just want a home together & it's becoming a bit of a nightmare. It's easier to buy apparently! How can that be? Have a lovely day! X

Bart1

They charge it because fools continue to pay. Check your local paper, landlords that deal direct and don't charge fees are not hard to find.

Struthus

Bart1 wrote: »

They charge it because fools continue to pay. Check your local paper, landlords that deal direct and don't charge fees are not hard to find.

Ha ha. We can't afford to be fools! £300 is a lot of money! I'll check out the papers my lovely. Thank you x

G_M

Heliflyguy wrote: »

So you good with energy companies et al charging you whatever they like as they "are in the business of making money" or are you just being ironic.

Truth is unlike the energy companies and most other businesses that have a hold over certain necessary resources they are unregulated and can rip you off as they wish.

I made no comment about my own views.

So whether or not I am 'good' with either energy companies or letting agencies charging whatever they like is not up for discussion.

OP said he "don't understand why it costs so much." and I explained why.

As you rightly say, unlike energy companies, LAs are unregulated, so are able to maximise their profits.

Pixie5740

Supply and demand. If there are more tenants looking for properties to rent than properties available then letting agencies almost have carte blanche to charge what they like as it is a completely unregulated industry in England.

Such fees are unlawful in Scotland and Shelter is currently running a campagin to End Letting Fees in England and Wales so sign the petition. I have.

Heliflyguy

There are many ways to maximise profits without charging extortionate amounts for services (generally poor when it comes to LA's) and goods.

They are not in the business of making money they are in the business of property letting and management from which they make money, your confusing them with financial institutions both of which clearly lack any moral responsibility.

But at least the latter is regulated.

jjlandlord

Heliflyguy wrote: »

There are many ways to maximise profits without charging extortionate amounts for services (generally poor when it comes to LA's) and goods.

Someone fell through the rabbit hole and is in wonderland.

Why don't you start your own business and show the world how it's done?

LateStarter

Heliflyguy wrote: »

They are not in the business of making money they are in the business of property letting and management from which they make money,

All businesses are in the business of making money - this is the destination. The only difference is the vehicle used to get there (i.e. what they actully sell) - in this case overpriced letting services.