Agent Fee??

welshguy101

Hi, im about to rent my 1st flat and after viewing it today, i agreed to sign a "reciept for reservation" form for £155, and i meet with him thursday to pay bond, and sign all the appropriate papers. he always told me there will be an agency fee of aprox 1 quarter of the £385 rent. This came as a shock to me as i had browsed the property online at http://www.primelocation.com, and had one phone call to re/max 1 stop estate agents, who arranged a time for me to meet the landlord outside the property, and made no mention of any fee, nor did the site that the property was listed on.

My rent will be paid directly to the landlord and not via the agency, so im having a hard time understanding why im going to have to pay £100 for me making one phone call to them, so what exactly am i going to be paying it for, any advice/info appreaciated.

thanks in advance.

paintpot

Usually this is as much for referencing and credit searches, I'd be very surprised if an agent didn't do this and a landlord would generally expect the agent to do this as a matter of course. Have they not mentioned anything along these lines?

noyk

this sounds like the agent hasn't made any money in some time and is scraping the barrel. Reservation fee my a$$.

PasturesNew

When I coughed up £150+VAT, I was told it was for credit checks and a "holding fee". The property would be "held" for me for 1 month.

noyk

Thats normal'ish then, i paid about that - still to much for what you get but it seems standard. Not sure about it being held especially if it's on with multiple agents, but its probably just the agent trying to make you feel like the 150 is not so bad. Good luck, hope all goes well.